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

IDEX Co. (NYSE:IEX) announced a quarterly dividend on Wednesday, September 18th, NASDAQ reports. Shareholders of record on Friday, October 11th will be paid a dividend of 0.69 per share by the industrial products company on Friday, October 25th. This represents a $2.76 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, October 11th.

IDEX has increased its dividend by an average of 8.0% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. IDEX has a dividend payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of IDEX stock opened at $210.50 on Friday. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $200.80 and a two-hundred day simple moving average of $214.02. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95.

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

Wall Street Analyst Weigh In

IEX has been the topic of several recent analyst reports. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Royal Bank of Canada decreased their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird decreased their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Oppenheimer decreased their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $233.50.

IDEX Company Profile

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.