Shell Asset Management Co. bought a new stake in IDEX Corporation (NYSE:IEX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,402 shares of the industrial products company’s stock, valued at approximately $723,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wallington Asset Management LLC purchased a new position in shares of IDEX Corporation during the second quarter valued at approximately $203,000. Oakbrook Investments LLC purchased a new position in shares of IDEX Corporation during the second quarter valued at approximately $367,000. State Treasurer State of Michigan boosted its position in shares of IDEX Corporation by 1.6% in the second quarter. State Treasurer State of Michigan now owns 31,500 shares of the industrial products company’s stock valued at $3,560,000 after buying an additional 500 shares during the last quarter. BTIM Corp. boosted its position in shares of IDEX Corporation by 3.1% in the second quarter. BTIM Corp. now owns 68,744 shares of the industrial products company’s stock valued at $7,768,000 after buying an additional 2,075 shares during the last quarter. Finally, Aperio Group LLC boosted its position in shares of IDEX Corporation by 13.8% in the second quarter. Aperio Group LLC now owns 32,095 shares of the industrial products company’s stock valued at $3,627,000 after buying an additional 3,891 shares during the last quarter. Institutional investors own 98.68% of the company’s stock.
Shares of IDEX Corporation (NYSE IEX) opened at 113.12 on Friday. The stock has a 50 day moving average of $114.25 and a 200-day moving average of $102.64. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $118.08. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 30.32 and a beta of 1.20.
IDEX Corporation (NYSE:IEX) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. The business had revenue of $573.40 million during the quarter, compared to analyst estimates of $568.43 million. During the same period in the previous year, the firm earned $0.99 EPS. IDEX Corporation’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that IDEX Corporation will post $4.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were given a $0.37 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. IDEX Corporation’s dividend payout ratio is presently 39.68%.
Several research analysts have commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $91.00 target price on shares of IDEX Corporation in a report on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $110.00 target price on shares of IDEX Corporation in a report on Friday, July 28th. Zacks Investment Research upgraded shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Friday, July 28th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $115.00 target price (up from $109.00) on shares of IDEX Corporation in a report on Thursday, July 27th. Finally, BidaskClub cut shares of IDEX Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $105.00.
In related news, Chairman Andrew K. Silvernail sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the transaction, the chairman now directly owns 142,114 shares in the company, valued at approximately $16,343,110. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.
About IDEX Corporation
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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