World Asset Management Inc increased its stake in shares of IDEX Corporation (NYSE:IEX) by 2.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,751 shares of the industrial products company’s stock after buying an additional 140 shares during the period. World Asset Management Inc’s holdings in IDEX Corporation were worth $650,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strs Ohio bought a new position in IDEX Corporation during the second quarter valued at about $112,000. Creative Planning boosted its position in IDEX Corporation by 4.3% in the first quarter. Creative Planning now owns 1,422 shares of the industrial products company’s stock valued at $133,000 after buying an additional 59 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in IDEX Corporation during the second quarter valued at about $181,000. Wallington Asset Management LLC bought a new position in IDEX Corporation during the second quarter valued at about $203,000. Finally, Diversified Trust Co bought a new position in IDEX Corporation during the first quarter valued at about $207,000. 98.67% of the stock is currently owned by institutional investors.
Shares of IDEX Corporation (IEX) traded down 0.55% during midday trading on Friday, reaching $112.96. 177,616 shares of the company were exchanged. The stock has a 50-day moving average price of $114.59 and a 200 day moving average price of $103.43. The company has a market capitalization of $8.63 billion, a P/E ratio of 30.28 and a beta of 1.20. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $118.08.
IDEX Corporation (NYSE:IEX) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The firm had revenue of $573.40 million for the quarter, compared to analyst estimates of $568.43 million. During the same period in the previous year, the business earned $0.99 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts expect that IDEX Corporation will post $4.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.48 annualized dividend and a yield of 1.31%. IDEX Corporation’s payout ratio is currently 39.68%.
IEX has been the topic of several recent analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $115.00 target price (up from $109.00) on shares of IDEX Corporation in a research note on Thursday, July 27th. Stifel Nicolaus reissued a “hold” rating and set a $100.00 target price on shares of IDEX Corporation in a research note on Friday, May 26th. BidaskClub downgraded shares of IDEX Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of IDEX Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Robert W. Baird reissued a “buy” rating and set a $104.00 target price on shares of IDEX Corporation in a research note on Friday, April 21st. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. IDEX Corporation has a consensus rating of “Hold” and a consensus target price of $105.00.
In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of IDEX Corporation stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $5,750,000.00. Following the sale, the chairman now directly owns 142,114 shares in the company, valued at approximately $16,343,110. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by 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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