Retirement Systems of Alabama cut its stake in IDEX Corporation (NYSE:IEX – Free Report) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 16,272 shares of the industrial products company’s stock after selling 124 shares during the quarter. Retirement Systems of Alabama’s holdings in IDEX were worth $2,945,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of IDEX by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company’s stock worth $134,096,000 after purchasing an additional 73,540 shares during the last quarter. Snyder Capital Management L P raised its stake in shares of IDEX by 12.2% in the fourth quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company’s stock worth $100,500,000 after purchasing an additional 52,259 shares during the last quarter. Assetmark Inc. raised its stake in shares of IDEX by 129.1% in the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 235 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of IDEX in the fourth quarter worth approximately $10,212,000. Finally, Corient Private Wealth LLC increased its position in shares of IDEX by 237.1% during the fourth quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock valued at $53,740,000 after acquiring an additional 180,601 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
IEX has been the subject of a number of research analyst reports. Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Citigroup decreased their price target on IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus increased their price target on IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Royal Bank Of Canada increased their price target on IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, Mizuho set a $185.00 price target on IDEX in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $212.50.
Insider Transactions at IDEX
In other news, CFO Akhil Mahendra sold 250 shares of IDEX stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the transaction, the chief financial officer now directly owns 5,035 shares in the company, valued at approximately $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.
IDEX Stock Performance
NYSE:IEX opened at $174.62 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.79 and a quick ratio of 1.99. The business has a fifty day simple moving average of $179.00 and a two-hundred day simple moving average of $191.61. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a market capitalization of $13.19 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.77 and a beta of 1.06.
IDEX (NYSE:IEX – Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The business had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. During the same period last year, the business posted $1.88 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts expect that IDEX Corporation will post 8.26 earnings per share for the current year.
IDEX Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, July 11th. IDEX’s dividend payout ratio is currently 45.01%.
IDEX Profile
IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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