IDEX Co. Plans Quarterly Dividend of $0.43 (IEX)

IDEX Co. (NYSE:IEX) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Stockholders of record on Tuesday, January 15th will be given a dividend of 0.43 per share by the industrial products company on Wednesday, January 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.27%.

IDEX has raised its dividend payment by an average of 10.7% annually over the last three years and has raised its dividend every year for the last 8 years. IDEX has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect IDEX to earn $5.77 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 29.8%.

Shares of NYSE:IEX traded up $0.55 on Thursday, reaching $135.04. 409,381 shares of the company were exchanged, compared to its average volume of 328,330. The company has a quick ratio of 2.41, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. IDEX has a 1-year low of $123.47 and a 1-year high of $157.84. The stock has a market cap of $10.32 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.10. IDEX had a net margin of 16.54% and a return on equity of 20.40%. The business had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $613.94 million. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that IDEX will post 5.36 earnings per share for the current year.

IEX has been the topic of a number of research reports. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research note on Friday, November 16th. Boenning Scattergood initiated coverage on shares of IDEX in a research note on Thursday, October 11th. They issued a “neutral” rating on the stock. Stifel Nicolaus increased their price objective on shares of IDEX from $149.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, October 8th. UBS Group set a $142.00 price objective on shares of IDEX and gave the company a “hold” rating in a research note on Friday, October 26th. Finally, Janney Montgomery Scott raised shares of IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Thursday, October 25th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. IDEX presently has a consensus rating of “Hold” and a consensus price target of $146.00.

ILLEGAL ACTIVITY WARNING: “IDEX Co. Plans Quarterly Dividend of $0.43 (IEX)” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/12/06/idex-co-plans-quarterly-dividend-of-0-43-iex.html.

About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

Read More: Understanding the different types of bonds

Dividend History for IDEX (NYSE:IEX)

Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply