IDEX Corp. (NYSE:IEX) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.92-0.94 for the period, compared to the Thomson Reuters consensus estimate of $0.95. IDEX Corp. also updated its FY16 guidance to $3.72 to $3.74 EPS.
IDEX Corp. (NYSE:IEX) opened at 86.98 on Tuesday. IDEX Corp. has a 12-month low of $67.20 and a 12-month high of $95.33. The stock has a 50 day moving average price of $91.54 and a 200-day moving average price of $86.96. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 23.06 and a beta of 1.16.
IDEX Corp. (NYSE:IEX) last announced its quarterly earnings results on Monday, October 17th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. IDEX Corp. had a return on equity of 19.49% and a net margin of 14.16%. The company had revenue of $530.40 million for the quarter, compared to the consensus estimate of $536.29 million. During the same quarter in the previous year, the business earned $0.89 EPS. IDEX Corp.’s revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that IDEX Corp. will post $3.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.56%. IDEX Corp.’s dividend payout ratio is presently 35.98%.
A number of research analysts recently issued reports on IEX shares. Janney Montgomery Scott started coverage on IDEX Corp. in a report on Tuesday, June 21st. They set a neutral rating and a $87.00 price target on the stock. Zacks Investment Research downgraded IDEX Corp. from a buy rating to a hold rating in a report on Tuesday, June 21st. Sanford C. Bernstein restated a market perform rating on shares of IDEX Corp. in a report on Monday, June 27th. Royal Bank Of Canada restated a buy rating on shares of IDEX Corp. in a report on Tuesday, July 12th. Finally, Jefferies Group restated a hold rating on shares of IDEX Corp. in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. IDEX Corp. currently has an average rating of Hold and a consensus target price of $85.86.
In other news, Director Gregory F. Milzcik sold 4,830 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $90.00, for a total value of $434,700.00. Following the sale, the director now directly owns 5,375 shares of the company’s stock, valued at approximately $483,750. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $91.34, for a total value of $600,560.50. Following the completion of the sale, the chairman now directly owns 88,418 shares in the company, valued at $8,076,100.12. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Pacad Investment Ltd. bought a new stake in shares of IDEX Corp. during the second quarter worth approximately $230,000. Credit Suisse AG boosted its stake in shares of IDEX Corp. by 34.6% in the second quarter. Credit Suisse AG now owns 92,829 shares of the company’s stock worth $7,621,000 after buying an additional 23,842 shares in the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of IDEX Corp. during the second quarter worth approximately $725,000. Gideon Capital Advisors Inc. boosted its stake in shares of IDEX Corp. by 33.4% in the second quarter. Gideon Capital Advisors Inc. now owns 3,499 shares of the company’s stock worth $287,000 after buying an additional 876 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of IDEX Corp. by 9.5% in the second quarter. Sei Investments Co. now owns 127,888 shares of the company’s stock worth $10,500,000 after buying an additional 11,044 shares in the last quarter. 97.49% of the stock is currently owned by hedge funds and other institutional investors.
About IDEX Corp.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP).
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