Advisors Asset Management Inc. reduced its position in IDEX Corp. (NYSE:IEX) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,406 shares of the company’s stock after selling 270 shares during the period. Advisors Asset Management Inc.’s holdings in IDEX Corp. were worth $280,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Washington Trust Bank raised its position in shares of IDEX Corp. by 3.2% in the second quarter. Washington Trust Bank now owns 1,271 shares of the company’s stock worth $104,000 after buying an additional 39 shares during the period. Quantbot Technologies LP purchased a new position in shares of IDEX Corp. during the second quarter worth about $181,000. Synovus Financial Corp raised its position in shares of IDEX Corp. by 0.6% in the second quarter. Synovus Financial Corp now owns 2,358 shares of the company’s stock worth $192,000 after buying an additional 13 shares during the period. GSA Capital Partners LLP purchased a new position in shares of IDEX Corp. during the second quarter worth about $205,000. Finally, BlackRock Japan Co. Ltd purchased a new position in shares of IDEX Corp. during the first quarter worth about $217,000. Institutional investors own 97.53% of the company’s stock.
Shares of IDEX Corp. (NYSE:IEX) traded up 0.73% during trading on Friday, hitting $93.57. The company had a trading volume of 314,981 shares. The stock’s 50-day moving average is $92.75 and its 200 day moving average is $86.32. The firm has a market capitalization of $7.12 billion, a P/E ratio of 24.81 and a beta of 1.26. IDEX Corp. has a 52-week low of $67.20 and a 52-week high of $95.33.
IDEX Corp. (NYSE:IEX) last released its quarterly earnings data on Monday, July 18th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. IDEX Corp. had a net margin of 14.16% and a return on equity of 19.49%. The company earned $549.70 million during the quarter. During the same quarter in the prior year, the company earned $0.89 EPS. Equities research analysts predict that IDEX Corp. will post $3.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.45%. IDEX Corp.’s dividend payout ratio (DPR) is 35.98%.
A number of equities analysts have weighed in on the company. Jefferies Group reiterated a “hold” rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. Janney Montgomery Scott upgraded IDEX Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $87.00 to $96.00 in a research note on Tuesday, July 19th. Zacks Investment Research upgraded IDEX Corp. from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Thursday, July 14th. Sanford C. Bernstein reiterated a “market perform” rating on shares of IDEX Corp. in a research note on Monday, June 27th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of IDEX Corp. in a research note on Tuesday, July 12th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $85.86.
In other news, Director Gregory F. Milzcik sold 4,830 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $90.00, for a total transaction of $434,700.00. Following the completion of the sale, the director now owns 5,375 shares in the company, valued at $483,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $91.34, for a total transaction of $600,560.50. Following the sale, the chairman now owns 88,418 shares of the company’s stock, valued at approximately $8,076,100.12. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
About IDEX Corp.
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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