Idex (IEX) Declares $0.64 Dividend
Idex said on May 25, 2023 that its board of directors declared a regular quarterly dividend of $0.64 per share ($2.56 annualized). Previously, the company paid $0.60 per share.
Shares must be purchased before the ex-div date of June 8, 2023 to qualify for the dividend. Shareholders of record as of June 9, 2023 will receive the payment on June 23, 2023.
At the current share price of $203.49 / share, the stock's dividend yield is 1.26%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.14%, the lowest has been 0.88%, and the highest has been 1.74%. The standard deviation of yields is 0.14 (n=235).
The current dividend yield is 0.87 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1366 funds or institutions reporting positions in Idex. This is an increase of 39 owner(s) or 2.94% in the last quarter. Average portfolio weight of all funds dedicated to IEX is 0.29%, an increase of 6.21%. Total shares owned by institutions decreased in the last three months by 3.66% to 87,160K shares. 
The put/call ratio of IEX is 1.81, indicating a bearish outlook.
Analyst Price Forecast Suggests 15.86% Upside
As of May 11, 2023, the average one-year price target for Idex is 235.77. The forecasts range from a low of 202.00 to a high of $288.75. The average price target represents an increase of 15.86% from its latest reported closing price of 203.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Idex is 3,311MM, an increase of 1.06%. The projected annual non-GAAP EPS is 8.60.
What are Other Shareholders Doing?
Price T Rowe Associates holds 4,410K shares representing 5.83% ownership of the company. In it's prior filing, the firm reported owning 3,270K shares, representing an increase of 25.84%. The firm increased its portfolio allocation in IEX by 26.98% over the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 2,730K shares representing 3.61% ownership of the company. In it's prior filing, the firm reported owning 2,049K shares, representing an increase of 24.94%. The firm increased its portfolio allocation in IEX by 27.38% over the last quarter.
Alliancebernstein holds 2,684K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 2,737K shares, representing a decrease of 1.95%. The firm decreased its portfolio allocation in IEX by 20.03% over the last quarter.
Wellington Management Group Llp holds 2,448K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 2,810K shares, representing a decrease of 14.81%. The firm decreased its portfolio allocation in IEX by 87.71% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,339K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 2,293K shares, representing an increase of 1.95%. The firm decreased its portfolio allocation in IEX by 4.71% over the last quarter.
Idex Background Information
(This description is provided by the company.)
IDEX is a company that has undoubtedly touched your life in some way. In fact, IDEX businesses make thousands of products that are mission-critical components in everyday activities. Chances are the car you're driving has a BAND-IT® clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life® rescue tool may have saved your life. If you or a family member is battling cancer, your doctor may have tested your DNA in a quest to find the best targeted medicine for you. It's likely your DNA test was run on equipment that contains components made by our growing IDEX Health & Science team. Founded in 1988 with three small, entrepreneurial manufacturing companies, IDEX is proud to say that IDEX now call 40 diverse businesses around the world part of the IDEX family. With 7,000 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global $2+ billion company committed to making trusted solutions that improve lives.
Key filings for this company:
This story originally appeared on Fintel.