IDEX Co. (IEX) To Go Ex-Dividend on May 16th

IDEX Co. (NYSE:IEX) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Investors of record on Friday, May 17th will be paid a dividend of 0.69 per share by the industrial products company on Friday, May 31st. This represents a $2.76 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from IDEX’s previous quarterly dividend of $0.64.

IDEX has raised its dividend payment by an average of 8.0% annually over the last three years and has raised its dividend every year for the last 14 years. IDEX has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect IDEX to earn $9.20 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 30.0%.

IDEX Price Performance

NYSE:IEX opened at $222.07 on Thursday. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36. The stock’s 50 day moving average price is $234.36 and its two-hundred day moving average price is $217.91. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $16.81 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 2.21 and a beta of 0.99.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 earnings per share. On average, analysts anticipate that IDEX will post 8.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IEX shares. Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Robert W. Baird decreased their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, Citigroup upped their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $250.71.

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.