Investec Asset Management North America Inc. lowered its position in shares of IDEX Corporation (NYSE:IEX) by 30.6% during the fourth quarter, Holdings Channel reports. The firm owned 12,368 shares of the company’s stock after selling 5,452 shares during the period. Investec Asset Management North America Inc.’s holdings in IDEX Corporation were worth $1,114,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Comerica Bank boosted its stake in shares of IDEX Corporation by 6.0% in the fourth quarter. Comerica Bank now owns 61,937 shares of the company’s stock worth $5,681,000 after buying an additional 3,482 shares during the period. State Board of Administration of Florida Retirement System boosted its position in IDEX Corporation by 1.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 101,670 shares of the company’s stock worth $9,156,000 after buying an additional 1,642 shares during the period. Twin Capital Management Inc. boosted its position in IDEX Corporation by 4.7% in the fourth quarter. Twin Capital Management Inc. now owns 27,750 shares of the company’s stock worth $2,499,000 after buying an additional 1,250 shares during the period. Russell Investments Group Ltd. bought a new position in IDEX Corporation during the fourth quarter worth about $2,871,000. Finally, First Bank & Trust bought a new position in IDEX Corporation during the fourth quarter worth about $662,000. 97.46% of the stock is currently owned by institutional investors and hedge funds.
IDEX Corporation (NYSE:IEX) traded up 0.88% during midday trading on Friday, reaching $90.93. 211,267 shares of the company’s stock traded hands. The firm’s 50-day moving average is $90.81 and its 200 day moving average is $91.12. IDEX Corporation has a 52-week low of $71.86 and a 52-week high of $95.76. The firm has a market cap of $6.91 billion, a PE ratio of 25.76 and a beta of 1.15.
IDEX Corporation (NYSE:IEX) last released its quarterly earnings data on Monday, January 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. IDEX Corporation had a net margin of 12.83% and a return on equity of 18.95%. The firm had revenue of $530.40 million for the quarter, compared to analysts’ expectations of $547.11 million. During the same quarter in the previous year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that IDEX Corporation will post $3.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Monday, January 16th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Wednesday, January 11th. IDEX Corporation’s payout ratio is 38.42%.
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IEX has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of IDEX Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. Stifel Nicolaus increased their price objective on shares of IDEX Corporation from $88.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 19th. RBC Capital Markets set a $101.00 price objective on shares of IDEX Corporation and gave the stock a “buy” rating in a research report on Wednesday, October 19th. Royal Bank Of Canada cut shares of IDEX Corporation from an “outperform” rating to a “sector perform” rating and set a $101.00 price objective on the stock. in a research report on Wednesday, December 7th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of IDEX Corporation in a research report on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $92.00.
In other news, SVP Jeffrey D. Bucklew sold 3,250 shares of IDEX Corporation stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $93.00, for a total transaction of $302,250.00. Following the sale, the senior vice president now owns 5,510 shares of the company’s stock, valued at approximately $512,430. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric D. Ashleman sold 6,000 shares of IDEX Corporation stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $92.83, for a total transaction of $556,980.00. Following the sale, the chief operating officer now directly owns 19,941 shares in the company, valued at approximately $1,851,123.03. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
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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