New York State Common Retirement Fund lowered its stake in IDEX Co. (NYSE:IEX) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,400 shares of the industrial products company’s stock after selling 1,150 shares during the quarter. New York State Common Retirement Fund’s holdings in IDEX were worth $37,237,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in IEX. Vanguard Group Inc boosted its holdings in shares of IDEX by 1.4% during the third quarter. Vanguard Group Inc now owns 6,997,198 shares of the industrial products company’s stock worth $1,054,197,000 after purchasing an additional 95,176 shares during the period. Meeder Asset Management Inc. acquired a new stake in IDEX in the 4th quarter worth approximately $53,000. IFM Investors Pty Ltd lifted its holdings in IDEX by 29.8% in the 4th quarter. IFM Investors Pty Ltd now owns 3,761 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 863 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID lifted its holdings in IDEX by 1.1% in the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 292,606 shares of the industrial products company’s stock worth $36,944,000 after purchasing an additional 3,310 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in IDEX in the 4th quarter worth approximately $25,000. Institutional investors and hedge funds own 95.50% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded IDEX from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Janney Montgomery Scott lowered IDEX from a “buy” rating to a “neutral” rating in a report on Friday, March 29th. Berenberg Bank began coverage on IDEX in a report on Wednesday, May 15th. They issued a “buy” rating and a $180.00 target price for the company. Boenning Scattergood reaffirmed a “hold” rating on shares of IDEX in a research report on Wednesday, January 30th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of IDEX in a research report on Friday, April 26th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $153.10.
Shares of NYSE IEX opened at $152.92 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.45 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 2.63 and a beta of 1.27. IDEX Co. has a 12 month low of $117.72 and a 12 month high of $159.51.
IDEX (NYSE:IEX) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. The business had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $634.38 million. IDEX had a return on equity of 21.22% and a net margin of 16.92%. IDEX’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 earnings per share. On average, research analysts forecast that IDEX Co. will post 5.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from IDEX’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. IDEX’s payout ratio is currently 36.97%.
In other news, VP Michael J. Yates sold 15,178 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $156.97, for a total transaction of $2,382,490.66. Following the sale, the vice president now directly owns 38,590 shares in the company, valued at $6,057,472.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Andrew K. Silvernail sold 81,120 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $155.11, for a total value of $12,582,523.20. Following the sale, the chairman now owns 173,947 shares in the company, valued at $26,980,919.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,820 shares of company stock worth $17,704,940. 1.20% of the stock is currently owned by company insiders.
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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