Bamco Inc. NY trimmed its position in shares of IDEX Co. (NYSE:IEX) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 490,494 shares of the industrial products company’s stock after selling 18,869 shares during the quarter. Bamco Inc. NY’s holdings in IDEX were worth $77,518,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Cerebellum GP LLC bought a new position in shares of IDEX during the second quarter valued at about $36,000. Twin Tree Management LP bought a new position in shares of IDEX during the first quarter valued at about $53,000. Citizens Financial Group Inc RI raised its stake in shares of IDEX by 131.5% during the second quarter. Citizens Financial Group Inc RI now owns 419 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 238 shares during the last quarter. Fifth Third Bancorp raised its stake in IDEX by 25.0% in the first quarter. Fifth Third Bancorp now owns 855 shares of the industrial products company’s stock worth $118,000 after buying an additional 171 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in IDEX in the first quarter worth about $134,000. 97.01% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Jeffrey D. Bucklew sold 1,936 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $180.90, for a total transaction of $350,222.40. Following the sale, the senior vice president now owns 740 shares in the company, valued at $133,866. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael J. Yates sold 15,397 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $180.17, for a total transaction of $2,774,077.49. Following the sale, the chief accounting officer now owns 28,763 shares in the company, valued at approximately $5,182,229.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,043 shares of company stock worth $21,872,661. Corporate insiders own 1.10% of the company’s stock.
IEX traded down $2.53 during midday trading on Monday, reaching $177.62. The company’s stock had a trading volume of 440,400 shares, compared to its average volume of 372,918. The firm has a market capitalization of $13.41 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 3.79 and a beta of 1.07. The company has a current ratio of 3.48, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. IDEX Co. has a 1 year low of $104.56 and a 1 year high of $185.18. The stock’s 50-day moving average is $172.84 and its 200-day moving average is $156.20.
IDEX (NYSE:IEX) last announced its quarterly earnings data on Friday, July 24th. The industrial products company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.10. IDEX had a net margin of 15.71% and a return on equity of 18.15%. The business had revenue of $561.25 million for the quarter, compared to analysts’ expectations of $526.69 million. During the same quarter in the prior year, the company earned $1.50 earnings per share. As a group, equities research analysts forecast that IDEX Co. will post 4.69 earnings per share for the current fiscal year.
IEX has been the subject of a number of research reports. Argus initiated coverage on shares of IDEX in a research note on Friday, June 19th. They issued a “buy” rating and a $180.00 price target for the company. Stifel Nicolaus increased their price target on shares of IDEX from $172.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Boenning Scattergood raised shares of IDEX from a “neutral” rating to an “outperform” rating in a research note on Friday, July 24th. Wells Fargo & Co increased their price target on shares of IDEX from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, Rosenblatt Securities increased their price target on shares of IDEX from $172.00 to $178.00 and gave the stock a “buy” rating in a research note on Sunday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $171.83.
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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