Municipal Employees Retirement System of Michigan lessened its holdings in IDEX Corporation (NYSE:IEX) by 21.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,120 shares of the industrial products company’s stock after selling 6,340 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in IDEX Corporation were worth $2,808,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. increased its stake in IDEX Corporation by 8.8% in the 2nd quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock valued at $790,326,000 after buying an additional 568,369 shares during the last quarter. Vanguard Group Inc. increased its stake in IDEX Corporation by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,380,482 shares of the industrial products company’s stock valued at $721,058,000 after buying an additional 134,086 shares during the last quarter. Capital World Investors increased its stake in IDEX Corporation by 0.4% in the 2nd quarter. Capital World Investors now owns 5,989,771 shares of the industrial products company’s stock valued at $676,904,000 after buying an additional 24,401 shares during the last quarter. State Street Corp increased its stake in IDEX Corporation by 20.6% in the 2nd quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock valued at $270,781,000 after buying an additional 409,654 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in IDEX Corporation by 5.4% in the 2nd quarter. Alliancebernstein L.P. now owns 1,801,923 shares of the industrial products company’s stock valued at $203,635,000 after buying an additional 92,345 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.
IDEX Corporation (IEX) traded down $0.06 during trading on Tuesday, hitting $127.96. 230,600 shares of the stock traded hands, compared to its average volume of 311,839. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.04 and a current ratio of 2.84. The stock has a market cap of $9,780.96, a PE ratio of 30.85, a P/E/G ratio of 2.31 and a beta of 1.22. IDEX Corporation has a 12-month low of $88.29 and a 12-month high of $129.40.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings data on Monday, October 16th. The industrial products company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The firm had revenue of $574.50 million for the quarter, compared to analysts’ expectations of $563.23 million. IDEX Corporation had a net margin of 13.48% and a return on equity of 19.07%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. equities research analysts forecast that IDEX Corporation will post 4.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, October 13th. IDEX Corporation’s payout ratio is presently 37.95%.
Several equities research analysts have commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $91.00 price objective on shares of IDEX Corporation in a research note on Friday, August 4th. BidaskClub downgraded shares of IDEX Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Robert W. Baird reissued a “buy” rating and set a $129.00 target price on shares of IDEX Corporation in a research report on Wednesday, October 4th. Seaport Global Securities reissued a “neutral” rating on shares of IDEX Corporation in a research report on Wednesday, October 18th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $118.00 target price on shares of IDEX Corporation in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $113.78.
In related news, SVP Daniel J. Salliotte sold 6,000 shares of IDEX Corporation stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $115.34, for a total value of $692,040.00. Following the transaction, the senior vice president now owns 33,762 shares in the company, valued at approximately $3,894,109.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of IDEX Corporation stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $116.79, for a total transaction of $467,160.00. Following the completion of the transaction, the senior vice president now owns 6,726 shares in the company, valued at approximately $785,529.54. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
IDEX Corporation Company Profile
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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