Equities analysts predict that IDEX Co. (NYSE:IEX) will announce sales of $641.77 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for IDEX’s earnings, with estimates ranging from $625.80 million to $662.00 million. IDEX reported sales of $622.89 million in the same quarter last year, which indicates a positive year over year growth rate of 3%. The business is expected to report its next earnings results after the market closes on Tuesday, October 29th.
According to Zacks, analysts expect that IDEX will report full year sales of $2.54 billion for the current fiscal year, with estimates ranging from $2.51 billion to $2.58 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.62 billion, with estimates ranging from $2.55 billion to $2.74 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow IDEX.
IDEX (NYSE:IEX) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $642.10 million for the quarter, compared to the consensus estimate of $655.87 million. IDEX had a return on equity of 21.20% and a net margin of 17.11%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $1.40 earnings per share.
IDEX stock traded down $1.15 during trading hours on Monday, hitting $157.83. The company had a trading volume of 282,500 shares, compared to its average volume of 465,289. The firm has a market cap of $12.07 billion, a PE ratio of 29.17, a PEG ratio of 2.74 and a beta of 1.23. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.36 and a quick ratio of 2.53. IDEX has a one year low of $117.72 and a one year high of $173.84. The firm has a 50-day moving average of $162.74 and a 200 day moving average of $161.36.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. IDEX’s dividend payout ratio is 36.97%.
In related news, Director William M. Cook sold 4,080 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $161.93, for a total transaction of $660,674.40. Following the sale, the director now owns 22,308 shares in the company, valued at approximately $3,612,334.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andrew K. Silvernail sold 85,785 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $167.75, for a total transaction of $14,390,433.75. Following the sale, the chairman now owns 258,604 shares in the company, valued at approximately $43,380,821. The disclosure for this sale can be found here. Insiders have sold a total of 155,229 shares of company stock worth $25,975,905 in the last quarter. 1.20% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of IEX. Invesco Ltd. lifted its stake in IDEX by 69.3% in the 2nd quarter. Invesco Ltd. now owns 1,469,664 shares of the industrial products company’s stock valued at $252,989,000 after purchasing an additional 601,539 shares during the last quarter. Victory Capital Management Inc. lifted its stake in IDEX by 766.4% in the 2nd quarter. Victory Capital Management Inc. now owns 239,011 shares of the industrial products company’s stock valued at $41,144,000 after purchasing an additional 211,424 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in IDEX by 358.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 246,582 shares of the industrial products company’s stock valued at $42,446,000 after purchasing an additional 192,795 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in IDEX by 97.5% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 364,534 shares of the industrial products company’s stock valued at $62,751,000 after purchasing an additional 179,980 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in IDEX by 2.0% in the 2nd quarter. BlackRock Inc. now owns 8,206,026 shares of the industrial products company’s stock valued at $1,412,586,000 after purchasing an additional 157,873 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.
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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