Brokerages predict that IDEX Co. (NYSE:IEX) will announce $657.81 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for IDEX’s earnings, with the lowest sales estimate coming in at $648.70 million and the highest estimate coming in at $674.00 million. IDEX reported sales of $634.36 million during the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The firm is expected to report its next earnings report on Tuesday, July 23rd.
On average, analysts expect that IDEX will report full-year sales of $2.57 billion for the current fiscal year, with estimates ranging from $2.56 billion to $2.61 billion. For the next year, analysts expect that the business will report sales of $2.69 billion, with estimates ranging from $2.66 billion to $2.77 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover IDEX.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. The company had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $634.38 million. IDEX had a return on equity of 21.22% and a net margin of 16.92%. IDEX’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 EPS.
In related news, SVP Daniel J. Salliotte sold 7,125 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $153.06, for a total value of $1,090,552.50. Following the completion of the transaction, the senior vice president now directly owns 44,545 shares in the company, valued at approximately $6,818,057.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Andrew K. Silvernail sold 81,120 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $155.11, for a total value of $12,582,523.20. Following the completion of the transaction, the chairman now owns 173,947 shares of the company’s stock, valued at $26,980,919.17. The disclosure for this sale can be found here. Insiders sold a total of 103,423 shares of company stock valued at $16,055,566 over the last quarter. 1.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new position in IDEX during the 4th quarter worth approximately $25,000. Cornerstone Advisors Inc. boosted its position in IDEX by 64.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 72 shares during the last quarter. Parallel Advisors LLC boosted its position in IDEX by 55.7% during the 1st quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 73 shares during the last quarter. Lindbrook Capital LLC acquired a new position in IDEX during the 4th quarter worth approximately $32,000. Finally, Essex Investment Management Co. LLC acquired a new position in IDEX during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 94.66% of the company’s stock.
Shares of IEX stock traded down $1.79 on Friday, reaching $160.30. The company had a trading volume of 330,900 shares, compared to its average volume of 319,181. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.33 and a quick ratio of 2.45. The stock has a market cap of $12.23 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.78 and a beta of 1.21. IDEX has a 12 month low of $117.72 and a 12 month high of $165.72.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This is a positive change from IDEX’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. IDEX’s payout ratio is currently 36.97%.
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.
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