IFM Investors Pty Ltd grew its stake in shares of IDEX Co. (NYSE:IEX) by 38.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,509 shares of the industrial products company’s stock after acquiring an additional 2,069 shares during the period. IFM Investors Pty Ltd’s holdings in IDEX were worth $1,231,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of IEX. Squar Milner Financial Services LLC boosted its holdings in IDEX by 376.5% in the third quarter. Squar Milner Financial Services LLC now owns 162 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 128 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in IDEX in the second quarter worth $27,000. Cullen Frost Bankers Inc. bought a new stake in IDEX in the second quarter worth $33,000. Cerebellum GP LLC bought a new stake in IDEX in the third quarter worth $36,000. Finally, SRS Capital Advisors Inc. bought a new stake in IDEX in the second quarter worth $44,000. Institutional investors and hedge funds own 95.25% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities assumed coverage on shares of IDEX in a report on Thursday. They issued a “buy” rating and a $185.00 price objective for the company. ValuEngine cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Stifel Nicolaus upped their price objective on shares of IDEX from $157.00 to $162.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Citigroup assumed coverage on shares of IDEX in a report on Monday, September 30th. They issued a “neutral” rating and a $175.00 price objective for the company. Finally, Wells Fargo & Co decreased their price objective on shares of IDEX from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. IDEX currently has a consensus rating of “Hold” and a consensus price target of $174.14.
IDEX stock traded down $0.76 on Friday, reaching $159.62. 211,681 shares of the stock were exchanged, compared to its average volume of 464,973. The stock has a market cap of $12.21 billion, a PE ratio of 29.50, a PEG ratio of 2.76 and a beta of 1.21. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.39. IDEX Co. has a twelve month low of $117.72 and a twelve month high of $173.84. The firm has a fifty day moving average price of $159.81 and a two-hundred day moving average price of $161.59.
IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.06. The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $641.66 million. IDEX had a net margin of 17.05% and a return on equity of 21.28%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. Equities analysts anticipate that IDEX Co. will post 5.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, October 15th. IDEX’s dividend payout ratio is 36.97%.
In other IDEX news, Director William M. Cook sold 4,080 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $161.93, for a total transaction of $660,674.40. Following the completion of the transaction, the director now owns 22,308 shares of the company’s stock, valued at approximately $3,612,334.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Eric D. Ashleman sold 2,922 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $165.75, for a total transaction of $484,321.50. Following the transaction, the chief operating officer now directly owns 22,453 shares of the company’s stock, valued at approximately $3,721,584.75. The disclosure for this sale can be found here. 1.20% of the stock is owned by 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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