IDEX Co. (IEX) To Go Ex-Dividend on October 11th

IDEX Co. (NYSE:IEX) declared a quarterly dividend on Wednesday, September 18th, NASDAQ reports. Investors of record on Friday, October 11th will be given a dividend of 0.69 per share by the industrial products company on Friday, October 25th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, October 11th.

IDEX has raised its dividend by an average of 8.0% annually over the last three years and has increased its dividend every year for the last 15 years. IDEX has a dividend payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect IDEX to earn $8.58 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 32.2%.

IDEX Stock Down 0.1 %

Shares of NYSE IEX opened at $208.41 on Wednesday. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a 50-day simple moving average of $202.39 and a two-hundred day simple moving average of $210.99. The company has a market cap of $15.78 billion, a P/E ratio of 27.42, a PEG ratio of 2.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.18 EPS. Research analysts anticipate that IDEX will post 7.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird cut their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus cut their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, DA Davidson reduced their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average price target of $238.29.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.