Retirement Systems of Alabama grew its stake in IDEX Co. (NYSE:IEX) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,633 shares of the industrial products company’s stock after buying an additional 1,457 shares during the period. Retirement Systems of Alabama owned 0.23% of IDEX worth $25,892,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in IDEX by 0.7% during the fourth quarter. BlackRock Inc. now owns 7,982,637 shares of the industrial products company’s stock worth $1,007,886,000 after purchasing an additional 53,470 shares during the period. Vanguard Group Inc grew its holdings in IDEX by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 6,997,198 shares of the industrial products company’s stock worth $1,054,197,000 after acquiring an additional 95,176 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in IDEX by 10,176.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,856,591 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 4,809,330 shares in the last quarter. FMR LLC grew its holdings in IDEX by 55.9% during the 4th quarter. FMR LLC now owns 1,733,558 shares of the industrial products company’s stock worth $218,879,000 after acquiring an additional 621,397 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in IDEX by 1.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,290,870 shares of the industrial products company’s stock worth $194,482,000 after acquiring an additional 17,572 shares in the last quarter. 94.63% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on IEX shares. Zacks Investment Research reiterated a “buy” rating and set a $141.00 price target on shares of IDEX in a report on Monday, December 31st. Boenning Scattergood reiterated a “hold” rating on shares of IDEX in a report on Wednesday, January 30th. Janney Montgomery Scott cut shares of IDEX from a “buy” rating to a “neutral” rating in a report on Friday, March 29th. Finally, Royal Bank of Canada upgraded shares of IDEX from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $141.00 to $146.00 in a report on Thursday, January 3rd. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $146.33.
IDEX (NYSE:IEX) last issued its earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.04. IDEX had a net margin of 16.53% and a return on equity of 20.82%. The business had revenue of $614.09 million during the quarter, compared to analysts’ expectations of $617.72 million. During the same quarter in the prior year, the business posted $1.12 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts expect that IDEX Co. will post 5.73 earnings per share for the current year.
In related news, VP Michael J. Yates sold 11,397 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total value of $1,649,373.84. Following the completion of the sale, the vice president now owns 26,590 shares in the company, valued at approximately $3,848,104.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey D. Bucklew sold 2,255 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the completion of the sale, the senior vice president now owns 2,255 shares of the company’s stock, valued at approximately $322,510.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
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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