Sei Investments Co. cut its stake in IDEX Corporation (NYSE:IEX) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,621 shares of the industrial products company’s stock after selling 14,785 shares during the period. Sei Investments Co. owned about 0.15% of IDEX Corporation worth $12,840,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Permanent School Fund increased its position in shares of IDEX Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 55,713 shares of the industrial products company’s stock valued at $6,296,000 after buying an additional 508 shares during the last quarter. World Asset Management Inc increased its position in shares of IDEX Corporation by 2.5% in the second quarter. World Asset Management Inc now owns 5,751 shares of the industrial products company’s stock valued at $650,000 after buying an additional 140 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of IDEX Corporation during the second quarter valued at approximately $254,000. Speece Thorson Capital Group Inc. increased its position in shares of IDEX Corporation by 1.0% in the second quarter. Speece Thorson Capital Group Inc. now owns 64,231 shares of the industrial products company’s stock valued at $7,259,000 after buying an additional 655 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of IDEX Corporation by 14.1% in the second quarter. Bessemer Group Inc. now owns 835,342 shares of the industrial products company’s stock valued at $94,403,000 after buying an additional 103,201 shares during the last quarter. 98.67% of the stock is currently owned by institutional investors.
IDEX Corporation (IEX) traded down 0.55% during mid-day trading on Friday, hitting $112.96. 177,616 shares of the stock were exchanged. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $118.08. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 30.28 and a beta of 1.20. The stock has a 50 day moving average of $114.59 and a 200-day moving average of $103.43.
IDEX Corporation (NYSE:IEX) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.06 by $0.02. The firm had revenue of $573.40 million for the quarter, compared to analyst estimates of $568.43 million. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. Equities analysts predict that IDEX Corporation will post $4.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend 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 currently 39.68%.
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Several brokerages recently commented on IEX. BidaskClub downgraded shares of IDEX Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC reissued a “hold” rating and set a $91.00 price objective on shares of IDEX Corporation in a research report on Friday, August 4th. BMO Capital Markets reissued a “hold” rating and set a $110.00 price objective on shares of IDEX Corporation in a research report on Friday, July 28th. Zacks Investment Research raised shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $115.00 price objective (up from $109.00) on shares of IDEX Corporation in a research report on Thursday, July 27th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $105.00.
In other news, Chairman Andrew K. Silvernail sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the transaction, the chairman now owns 142,114 shares in the company, valued at $16,343,110. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
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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