On May 25, 2023, Idex’s board of directors declared a regular quarterly dividend of $0.64 per share ($2.56 annualized), compared to the previous payout of $0.60 per share. Investors must purchase shares before the ex-dividend date on June 8, 2023 to receive the payment on June 23, 2023.
Based on the current stock price of $203.49 per share, the dividend yield stands at 1.26%. Over the last five years, the average dividend yield has been 1.14%, with a low of 0.88% and a high of 1.74% (n=235). It should be noted that the current yield is 0.87 standard deviations above the historical average.
The company’s dividend payout ratio is 0.31, indicating that it pays out a moderate portion of its earnings in the form of dividends. This ratio is used to measure the percentage of the company’s income paid out as dividends. Generally, companies with poor growth prospects tend to pay out most of their income in dividends, with a payout ratio typically between 0.5 to 1.0. On the other hand, companies that expect to witness growth would retain a significant part of their profits for investing in future growth prospects, leading to a lower payout ratio or even zero.
Idex’s 3-year dividend growth rate is 0.20%, indicating an increase in dividends over time.
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Fund Sentiment and Analyst Price Forecast
As of May 11, 2023, Idex’s average one-year price target is $235.77, ranging from a low of $202.00 to a high of $288.75. The average price target represents a 15.86% increase from the recent closing price of $203.49.
Additionally, 1366 funds or institutions reported positions in Idex, an increase of 39 or 2.94% in the last quarter. The average portfolio weight of all funds dedicated to IEX is 0.29%, an increase of 6.21%. In contrast, total shares owned by institutions declined over the last three months by 3.66% to 87,160K shares. The put/call ratio of IEX is 1.81, indicating a bearish outlook.
Other Shareholders in Idex
Price T Rowe Associates holds 4,410K shares, representing 5.83% ownership of the company. The firm reported owning 3,270K shares in its prior filing, 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. The firm reported owning 2,049K shares, indicating 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. 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. The firm reported owning 2,810K shares, indicating 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. The firm reported owning 2,293K shares, indicating an increase of 1.95%. The firm decreased its portfolio allocation in IEX by 4.71% over the last quarter.
Background Information on Idex
(This description is provided by the company.)
Since its founding in 1988, Idex has become a company that has affected our daily lives in different ways. Its products contribute to several critical components in everyday activities. For instance, the BAND-IT® clamp in your car keeps your side airbag securely in place, while the Hurst Jaws of Life® rescue tool could have saved your life in case of a car accident. As a result, it’s possible that your DNA test was made using equipment with components created by the growing IDEX Health & Science team, as doctors battle cancer. Today, Idex is proud to call 40 different businesses around the world a part of the IDEX family, with its 7,000 employees and operations across more than 20 countries. The globally renowned company, with an annual revenue projection of $2+ billion, is committed to offering trusted solutions that improve lives.
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