IDEX Co. (IEX) To Go Ex-Dividend on January 17th

IDEX Co. (NYSE:IEX) declared a quarterly dividend on Wednesday, November 13th,RTT News reports. Stockholders of record on Friday, January 17th will be paid a dividend of 0.69 per share by the industrial products company on Friday, January 31st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, January 17th.

IDEX has raised its dividend payment by an average of 8.5% per year over the last three years and has increased its dividend every year for the last 15 years. IDEX has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect IDEX to earn $8.47 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 32.6%.

IDEX Stock Up 2.2 %

IEX opened at $214.55 on Wednesday. The stock has a fifty day moving average of $221.40 and a 200-day moving average of $210.02. The company has a market capitalization of $16.25 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.36 and a beta of 0.97. IDEX has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the previous year, the company earned $2.12 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, equities analysts expect that IDEX will post 7.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Stifel Nicolaus raised their price objective on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada increased their target price on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Citigroup dropped their price target on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday. Finally, Robert W. Baird reduced their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.86.

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.