IDEX Co. (IEX) Given Hold Rating at Stifel Nicolaus
IDEX Co. (NYSE:IEX)‘s stock had its “hold” rating reaffirmed by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Friday. They currently have a $100.00 target price on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential downside of 7.17% from the stock’s current price.
IEX has been the topic of several other research reports. Zacks Investment Research upgraded shares of IDEX from a “sell” rating to a “hold” rating in a research note on Thursday, April 20th. Robert W. Baird reiterated a “buy” rating and issued a $104.00 target price on shares of IDEX in a research note on Friday, April 21st. BMO Capital Markets reiterated a “hold” rating and issued a $104.00 target price on shares of IDEX in a research note on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $79.00 target price on shares of IDEX in a research note on Wednesday, April 12th. Finally, Janney Montgomery Scott downgraded shares of IDEX from a “buy” rating to a “neutral” rating and set a $96.00 target price on the stock. in a research note on Thursday, March 2nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. IDEX currently has an average rating of “Hold” and a consensus price target of $100.71.
Shares of IDEX (NYSE:IEX) traded down 0.13% during trading on Friday, reaching $107.72. 344,702 shares of the company traded hands. IDEX has a 12-month low of $77.93 and a 12-month high of $109.87. The firm’s 50 day moving average is $102.01 and its 200-day moving average is $94.64. The stock has a market capitalization of $8.22 billion, a P/E ratio of 29.67 and a beta of 1.15.
IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, April 19th. The industrial products company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.10. The business had revenue of $553.60 million for the quarter, compared to analysts’ expectations of $533.14 million. IDEX had a net margin of 12.83% and a return on equity of 18.95%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, equities research analysts anticipate that IDEX will post $4.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, May 11th. This is an increase from IDEX’s previous quarterly dividend of $0.34. IDEX’s dividend payout ratio is currently 38.42%.
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In related news, SVP Jeffrey D. Bucklew sold 2,000 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, the senior vice president now owns 2,726 shares in the company, valued at $281,023.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael J. Yates sold 10,533 shares of the stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $104.30, for a total transaction of $1,098,591.90. Following the transaction, the vice president now owns 34,418 shares in the company, valued at approximately $3,589,797.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,613 shares of company stock worth $1,312,276. Insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of IEX. BlackRock Inc. increased its position in shares of IDEX by 7,037.4% in the first quarter. BlackRock Inc. now owns 6,425,051 shares of the industrial products company’s stock worth $600,808,000 after buying an additional 6,335,032 shares during the period. Capital World Investors increased its position in shares of IDEX by 34.6% in the third quarter. Capital World Investors now owns 5,966,984 shares of the industrial products company’s stock worth $558,331,000 after buying an additional 1,532,396 shares during the period. Waddell & Reed Financial Inc. bought a new position in shares of IDEX during the fourth quarter worth $87,374,000. Norges Bank bought a new position in shares of IDEX during the fourth quarter worth $54,892,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of IDEX by 6.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,055,441 shares of the industrial products company’s stock worth $846,957,000 after buying an additional 638,828 shares during the period. Institutional investors own 97.58% of the company’s stock.
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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