IDEX Co. (NYSE:IEX – Get Rating) – Analysts at Zacks Research raised their FY2022 earnings per share (EPS) estimates for IDEX in a research note issued to investors on Wednesday, November 2nd. Zacks Research analyst E. Haque now forecasts that the industrial products company will post earnings per share of $8.06 for the year, up from their prior estimate of $7.92. The consensus estimate for IDEX’s current full-year earnings is $8.08 per share. Zacks Research also issued estimates for IDEX’s Q4 2022 earnings at $1.94 EPS, Q1 2023 earnings at $2.11 EPS, Q2 2023 earnings at $2.13 EPS, Q3 2023 earnings at $2.11 EPS, Q4 2023 earnings at $1.99 EPS, Q1 2024 earnings at $2.14 EPS, Q2 2024 earnings at $2.15 EPS, Q3 2024 earnings at $2.17 EPS and FY2024 earnings at $8.48 EPS.
IDEX (NYSE:IEX – Get Rating) last announced its earnings results on Tuesday, October 25th. The industrial products company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.14. The company had revenue of $824.00 million during the quarter, compared to analyst estimates of $779.81 million. IDEX had a return on equity of 20.68% and a net margin of 18.66%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share.
IDEX Price Performance
IDEX stock opened at $225.75 on Monday. The business’s 50-day simple moving average is $206.94 and its 200 day simple moving average is $197.86. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 2.30 and a beta of 1.01. IDEX has a 12-month low of $172.18 and a 12-month high of $240.33. The company has a quick ratio of 2.33, a current ratio of 3.23 and a debt-to-equity ratio of 0.42.
Institutional Trading of IDEX
Institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of IDEX by 34.8% during the 1st quarter. CWM LLC now owns 1,181 shares of the industrial products company’s stock worth $226,000 after buying an additional 305 shares in the last quarter. UMB Bank N A MO raised its holdings in shares of IDEX by 15.3% during the 1st quarter. UMB Bank N A MO now owns 581 shares of the industrial products company’s stock worth $111,000 after buying an additional 77 shares in the last quarter. Allworth Financial LP raised its holdings in shares of IDEX by 1,072.7% during the 1st quarter. Allworth Financial LP now owns 129 shares of the industrial products company’s stock worth $25,000 after buying an additional 118 shares in the last quarter. Tobam raised its holdings in shares of IDEX by 28.4% during the 1st quarter. Tobam now owns 330 shares of the industrial products company’s stock worth $63,000 after buying an additional 73 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of IDEX during the 1st quarter worth $216,000. 96.52% of the stock is currently owned by institutional investors.
Insider Transactions at IDEX
In related news, CFO William K. Grogan sold 843 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $50.45, for a total value of $42,529.35. Following the completion of the sale, the chief financial officer now directly owns 127,689 shares in the company, valued at approximately $6,441,910.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO William K. Grogan sold 843 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $50.45, for a total transaction of $42,529.35. Following the completion of the sale, the chief financial officer now directly owns 127,689 shares in the company, valued at approximately $6,441,910.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric D. Ashleman sold 15,848 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $86.43, for a total value of $1,369,742.64. Following the sale, the chief executive officer now owns 38,480 shares of the company’s stock, valued at $3,325,826.40. The disclosure for this sale can be found here. In the last three months, insiders sold 19,766 shares of company stock worth $2,097,044. 0.50% of the stock is owned by company insiders.
IDEX Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, October 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.06%. IDEX’s dividend payout ratio is currently 31.79%.
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, small volume provers, 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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