According to Zacks, “Over the past six months, IDEX‘s shares have outperformed the industry. The company stands to gain from solid product portfolio, strengthening end-markets and acquired assets in the quarters ahead. Also, its policy of rewarding shareholders handsomely through dividends and buybacks raises its appeal. Earnings are predicted to be $5.70-$5.85 in 2019, higher than $5.60-$5.80 per share mentioned earlier. Organic sales are projected to grow 4-5%. Also, earnings estimates for 2019 and 2020 improved in the past 30 days. However, the company has been dealing with adverse impacts of higher cost of sales and operating expenses for quite some time now. In addition, unfavorable movements in foreign currencies are predicted to adversely impact sales by 1% in 2019 and by roughly 2% in the second quarter.”
A number of other analysts have also recently weighed in on the stock. DA Davidson reaffirmed a neutral rating on shares of IDEX in a research report on Friday, April 26th. Boenning Scattergood reaffirmed a hold rating on shares of IDEX in a research report on Wednesday, January 30th. Janney Montgomery Scott cut shares of IDEX from a buy rating to a neutral rating in a research report on Friday, March 29th. Oppenheimer reaffirmed a hold rating on shares of IDEX in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus upped their price target on shares of IDEX from $129.00 to $153.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. IDEX has an average rating of Hold and a consensus price target of $153.40.
IDEX (NYSE:IEX) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.07. IDEX had a net margin of 16.92% and a return on equity of 21.22%. The company had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $634.38 million. During the same period in the previous year, the company earned $1.27 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that IDEX will post 5.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. This is a boost from IDEX’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, May 16th. IDEX’s dividend payout ratio is 31.79%.
In other IDEX news, Chairman Andrew K. Silvernail sold 81,120 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $155.11, for a total value of $12,582,523.20. Following the completion of the transaction, the chairman now directly owns 173,947 shares of the company’s stock, valued at approximately $26,980,919.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael J. Yates sold 11,397 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total transaction of $1,649,373.84. Following the completion of the transaction, the vice president now directly owns 26,590 shares of the company’s stock, valued at $3,848,104.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,950 shares of company stock valued at $16,936,898. 1.20% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of IEX. Vanguard Group Inc boosted its position in IDEX by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 6,997,198 shares of the industrial products company’s stock valued at $1,054,197,000 after buying an additional 95,176 shares during the last quarter. Federated Investors Inc. PA boosted its position in IDEX by 86.9% in the 3rd quarter. Federated Investors Inc. PA now owns 56,573 shares of the industrial products company’s stock valued at $8,523,000 after buying an additional 26,298 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in IDEX by 8,284.5% in the 4th quarter. Gateway Investment Advisers LLC now owns 124,678 shares of the industrial products company’s stock valued at $15,742,000 after buying an additional 123,191 shares during the last quarter. DNB Asset Management AS boosted its position in IDEX by 21.1% in the 4th quarter. DNB Asset Management AS now owns 16,069 shares of the industrial products company’s stock valued at $2,029,000 after buying an additional 2,804 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its position in IDEX by 143.9% in the 4th quarter. Oakbrook Investments LLC now owns 7,500 shares of the industrial products company’s stock valued at $947,000 after buying an additional 4,425 shares during the last quarter. 94.64% of the stock is owned by institutional investors.
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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