Mason Street Advisors LLC increased its position in IDEX Co. (NYSE:IEX) by 0.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 40,305 shares of the industrial products company’s stock after acquiring an additional 124 shares during the quarter. Mason Street Advisors LLC’s holdings in IDEX were worth $6,116,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in IEX. Quantamental Technologies LLC bought a new position in shares of IDEX during the 4th quarter worth approximately $25,000. Cornerstone Advisors Inc. boosted its holdings in shares of IDEX by 64.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $28,000 after buying an additional 72 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of IDEX by 55.7% during the 1st quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock worth $31,000 after buying an additional 73 shares in the last quarter. Lindbrook Capital LLC bought a new position in shares of IDEX during the 4th quarter worth approximately $32,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of IDEX during the 4th quarter worth approximately $33,000. 94.64% of the stock is owned by institutional investors.
A number of research firms have issued reports on IEX. Zacks Investment Research cut IDEX from a “buy” rating to a “hold” rating in a report on Monday. Berenberg Bank began coverage on IDEX in a report on Wednesday. They set a “buy” rating and a $180.00 price target on the stock. Stifel Nicolaus increased their price target on IDEX from $129.00 to $153.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Janney Montgomery Scott cut IDEX from a “buy” rating to a “neutral” rating in a report on Friday, March 29th. Finally, Boenning Scattergood restated a “hold” rating on shares of IDEX in a report on Wednesday, January 30th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $153.40.
In related news, VP Michael J. Yates sold 15,178 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $156.97, for a total value of $2,382,490.66. Following the completion of the sale, the vice president now directly owns 38,590 shares of the company’s stock, valued at approximately $6,057,472.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael J. Yates sold 11,397 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total value of $1,649,373.84. Following the completion of the sale, the vice president now directly owns 26,590 shares of the company’s stock, valued at $3,848,104.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,695 shares of company stock worth $16,614,388. 1.20% of the stock is owned by company insiders.
Shares of IEX traded down $1.97 during trading hours on Friday, reaching $151.49. The stock had a trading volume of 31,670 shares, compared to its average volume of 335,774. IDEX Co. has a 12 month low of $117.72 and a 12 month high of $159.51. The company has a quick ratio of 2.45, a current ratio of 3.33 and a debt-to-equity ratio of 0.41. The stock has a market cap of $11.62 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.64 and a beta of 1.27.
IDEX (NYSE:IEX) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. IDEX had a return on equity of 21.22% and a net margin of 16.92%. The company had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $634.38 million. During the same period last year, the business earned $1.27 EPS. IDEX’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts expect that IDEX Co. will post 5.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.50 dividend. This is a boost from IDEX’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Thursday, May 16th. IDEX’s dividend payout ratio (DPR) is currently 31.79%.
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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