Strs Ohio raised its holdings in IDEX Co. (NYSE:IEX) by 1,531.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 139,089 shares of the industrial products company’s stock after acquiring an additional 130,564 shares during the quarter. Strs Ohio owned 0.18% of IDEX worth $23,923,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in IEX. State Street Corp lifted its holdings in IDEX by 23.1% in the third quarter. State Street Corp now owns 3,104,075 shares of the industrial products company’s stock valued at $508,696,000 after acquiring an additional 581,822 shares during the period. Millennium Management LLC lifted its holdings in IDEX by 360.9% in the third quarter. Millennium Management LLC now owns 589,011 shares of the industrial products company’s stock valued at $96,527,000 after acquiring an additional 461,220 shares during the period. Nuveen Asset Management LLC lifted its holdings in IDEX by 358.4% in the second quarter. Nuveen Asset Management LLC now owns 246,582 shares of the industrial products company’s stock valued at $42,446,000 after acquiring an additional 192,795 shares during the period. BlackRock Inc. lifted its holdings in IDEX by 2.0% in the second quarter. BlackRock Inc. now owns 8,206,026 shares of the industrial products company’s stock valued at $1,412,586,000 after acquiring an additional 157,873 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in IDEX by 1,001.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 120,985 shares of the industrial products company’s stock valued at $19,827,000 after acquiring an additional 110,000 shares during the period. 97.36% of the stock is owned by institutional investors.
A number of equities research analysts have commented on IEX shares. Royal Bank of Canada reissued a “buy” rating and issued a $180.00 target price on shares of IDEX in a report on Wednesday, December 18th. ValuEngine downgraded IDEX from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Citigroup assumed coverage on IDEX in a research note on Monday, September 30th. They set a “neutral” rating and a $175.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $185.00 price target on shares of IDEX in a research note on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $180.43.
In related news, SVP Daniel J. Salliotte sold 23,842 shares of IDEX stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $161.62, for a total transaction of $3,853,344.04. Following the completion of the sale, the senior vice president now owns 30,358 shares in the company, valued at approximately $4,906,459.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michael J. Yates sold 14,871 shares of IDEX stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $162.76, for a total value of $2,420,403.96. Following the sale, the chief accounting officer now owns 6,197 shares of the company’s stock, valued at approximately $1,008,623.72. The disclosure for this sale can be found here. Insiders have sold a total of 54,543 shares of company stock valued at $8,833,294 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.
NYSE:IEX opened at $172.14 on Monday. The company has a market capitalization of $13.09 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22. The company has a quick ratio of 2.39, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. IDEX Co. has a 52-week low of $130.00 and a 52-week high of $176.70. The stock has a fifty day simple moving average of $170.96 and a 200-day simple moving average of $164.98.
IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.06. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $641.66 million. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 EPS. As a group, equities analysts anticipate that IDEX Co. will post 5.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, January 14th. IDEX’s dividend payout ratio (DPR) is presently 36.97%.
IDEX Company Profile
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.
