IDEX Corporation (NYSE:IEX) Shareholders Set to Receive $0.73 Quarterly Dividend

IDEX Corporation (NYSE:IEX) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Wednesday, January 13th will be given a dividend of $0.73 per share by the industrial products company on Wednesday, January 27th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, January 13th.

IDEX has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. IDEX has a dividend payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect IDEX to earn $9.78 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 29.9%.

IDEX Stock Up 1.3%

IEX opened at $239.93 on Thursday. The stock’s fifty day moving average is $230.52 and its 200-day moving average is $217.53. IDEX has a one year low of $160.60 and a one year high of $243.80. The company has a market capitalization of $17.62 billion, a PE ratio of 33.32, a P/E/G ratio of 2.65 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.95 and a current ratio of 2.78.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, October 28th. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.09. IDEX had a return on equity of 16.18% and a net margin of 14.65%. The firm had revenue of $951.70 million for the quarter, compared to analyst estimates of $934.36 million. During the same period in the previous year, the company earned $2.03 earnings per share. IDEX’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that IDEX will post 8.95 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEX

A number of hedge funds and other institutional investors have recently modified their holdings of IEX. BlackRock Inc. purchased a new position in IDEX in the 2nd quarter worth about $1,301,393,000. Primecap Management Co. CA purchased a new stake in IDEX during the second quarter valued at about $748,951,000. Amundi boosted its holdings in shares of IDEX by 19.6% in the second quarter. Amundi now owns 1,458,979 shares of the industrial products company’s stock worth $331,017,000 after buying an additional 239,579 shares during the period. Bank of America Corp DE boosted its holdings in shares of IDEX by 215.0% in the first quarter. Bank of America Corp DE now owns 1,094,101 shares of the industrial products company’s stock worth $207,387,000 after buying an additional 746,732 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of IDEX by 101.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,042,703 shares of the industrial products company’s stock worth $236,641,000 after buying an additional 525,048 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

About IDEX

IDEX Corporation is a diversified manufacturer of engineered products and technologies used in industrial, life sciences, fire and safety, and other specialized markets. Its offerings include pumps, valves, flow meters and dispensing equipment, as well as components and instruments used in fluidics, medical technology and scientific applications. The company also supplies fire and rescue equipment, including tools and water-handling products. IDEX serves customers around the world through its operating businesses, which sell products for applications ranging from manufacturing and energy to healthcare and emergency response.