Gofen & Glossberg LLC IL bought a new position in IDEX Co. (NYSE:IEX) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 52,708 shares of the industrial products company’s stock, valued at approximately $7,194,000. Gofen & Glossberg LLC IL owned 0.07% of IDEX as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in IEX. Advisor Group Inc. boosted its holdings in shares of IDEX by 166.3% in the 4th quarter. Advisor Group Inc. now owns 1,374 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 858 shares during the period. HRT Financial LLC purchased a new position in shares of IDEX in the 1st quarter worth approximately $215,000. Brinker Capital Inc. purchased a new position in shares of IDEX in the 1st quarter worth approximately $231,000. IBM Retirement Fund purchased a new position in shares of IDEX in the 1st quarter worth approximately $239,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of IDEX in the 1st quarter worth approximately $242,000. Hedge funds and other institutional investors own 95.46% of the company’s stock.
In other IDEX news, SVP Denise R. Cade sold 7,416 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $138.57, for a total value of $1,027,635.12. Following the completion of the sale, the senior vice president now directly owns 6,302 shares in the company, valued at approximately $873,268.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeffrey D. Bucklew sold 1,589 shares of the company’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $141.41, for a total value of $224,700.49. Following the completion of the sale, the senior vice president now owns 1,701 shares of the company’s stock, valued at $240,538.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,317 shares of company stock valued at $5,169,338. 1.20% of the stock is owned by company insiders.
A number of brokerages have recently commented on IEX. Zacks Investment Research cut IDEX from a “hold” rating to a “sell” rating in a report on Monday. Janney Montgomery Scott reiterated a “neutral” rating and issued a $140.00 target price (up previously from $139.00) on shares of IDEX in a report on Tuesday, May 1st. They noted that the move was a valuation call. BMO Capital Markets lifted their target price on IDEX from $143.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, May 1st. DA Davidson began coverage on IDEX in a report on Thursday, April 12th. They issued a “neutral” rating and a $140.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on IDEX from $145.00 to $140.00 and set a “hold” rating for the company in a report on Monday, April 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. IDEX currently has a consensus rating of “Hold” and an average target price of $137.55.
IDEX opened at $136.74 on Thursday, according to Marketbeat.com. IDEX Co. has a 52-week low of $110.25 and a 52-week high of $150.72. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.38 and a quick ratio of 2.48. The firm has a market cap of $10.62 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.21.
IDEX (NYSE:IEX) last posted its quarterly earnings data on Monday, April 30th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. IDEX had a return on equity of 19.07% and a net margin of 15.36%. The company had revenue of $612.30 million during the quarter, compared to analysts’ expectations of $601.11 million. During the same quarter in the previous year, the business earned $1.04 EPS. IDEX’s revenue was up 10.6% compared to the same quarter last year. research analysts forecast that IDEX Co. will post 5.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Monday, July 16th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, July 13th. IDEX’s payout ratio is currently 39.91%.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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