LONDON, UK / ACCESSWIRE / May 11, 2018 / Active-Investors has a free review on IDEX Corp. (NYSE: IEX) following the Company's announcement that it will begin trading ex-dividend on May 14, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on May 11, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on IEX:
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On April 25, 2018, IDEX announced that its Board of Directors has approved a 16% increase in the company's regular quarterly cash dividend to $0.43 per common share. The next dividend will be paid May 31, 2018, to shareholders of record as of May 15, 2018.
IDEX's indicated dividend represents a yield of 1.26%, which is slightly higher than the average dividend yield of 1.14% for the Industrial Goods sector. This dividend represents the Company's 94th consecutive regular quarterly cash dividend payment.
IDEX has a dividend payout ratio of 33.2%, which indicates that the Company spends approximately $0.33 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, IDEX is forecasted to report earnings of $5.57 per share for the next year, which is more than triple compared to the Company's annualized dividend of $1.72 per share.
For the three months ended March 31, 2018, IDEX's cash from operations of $71.7 million led to free cash flow of $61.7 million, which was 62% of adjusted net income. As of March 31, 2018, the Company's cash and cash equivalents totaled $412.97 million compared to $375.95 million as on December 31, 2017. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
On April 30, 2018, IDEX announced its financial results for the three-month period ended March 31, 2018. The Company reported orders of $632.2 million, up 11% on a y-o-y basis.
For Q1 2018, IDEX's sales of $612.3 million grew 11% compared to the year ago same period. The Company's reported quarter net income was $99.0 million, or $1.27 per share, compared to $75.9 million, or $0.99 per share, in the year earlier comparable quarter. Excluding restructuring expenses, IDEX's adjusted earnings surged 25% to $1.29 per share compared to $1.03 per share in Q1 2017.
About IDEX Corp.
IDEX is a global fluidics leader serving high growth specialized markets. The Company is best known for its expertise in highly engineered fluidics systems and components as well for its expertise in fire and safety products including the Jaws of Life® family of rescue and recovery tools. Whether it's a life-saving rescue operation, dispensing fresh juice to a first grader or fueling aircraft, IDEX is a leader in creating enabling technology used in many of the most common everyday activities.
Stock Performance Snapshot
May 10, 2018 - At Thursday's closing bell, IDEX's stock marginally climbed 0.92%, ending the trading session at $137.85.
Volume traded for the day: 230.49 thousand shares.
Stock performance in the last three-month – up 3.87%; previous six-month period – up 8.13%; past twelve-month period – up 31.84%; and year-to-date – up 4.46%
After yesterday's close, IDEX's market cap was at $10.66 billion.
Price to Earnings (P/E) ratio was at 31.62.
The stock has a dividend yield of 1.07%.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 0.4% at the end of the session.
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