Stock Buyback Program Approved by IDEX (NYSE:IEX) Board of Directors

Key Points

• IDEX has authorized a share buyback program to repurchase up to $1.00 billion, equivalent to 8.3% of its outstanding shares, indicating the board's belief that the stock is undervalued.
• The company's most recent earnings report showed an EPS of $2.07, beating estimates, with a revenue increase of 7.2% year-over-year.
• IDEX announced a quarterly dividend of $0.71 per share, reflecting an annual yield of 1.8%, with a payout ratio of 45.88%.

IDEX (NYSE:IEX - Get Free Report) declared that its board has initiated a share buyback plan on Thursday, September 18th, RTT News reports. The company plans to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Oppenheimer decreased their target price on IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Royal Bank Of Canada decreased their target price on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Citigroup lifted their target price on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, July 14th. DA Davidson set a $180.00 target price on IDEX and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, Stifel Nicolaus decreased their target price on IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $201.71.

IDEX Stock Down 0.6%

IEX traded down $0.96 during trading on Friday, hitting $161.10. 1,828,327 shares of the company's stock were exchanged, compared to its average volume of 666,938. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The business's 50 day moving average is $167.84 and its two-hundred day moving average is $174.98. IDEX has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The stock has a market cap of $12.13 billion, a P/E ratio of 26.03, a PEG ratio of 1.71 and a beta of 1.02.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.07. The firm had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 EPS. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. As a group, equities analysts expect that IDEX will post 8.26 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, October 10th. IDEX's dividend payout ratio is 45.88%.

About IDEX

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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.