Fenimore Asset Management Inc. reduced its stake in shares of IDEX Corp. (NYSE:IEX) by 0.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 859,736 shares of the company’s stock after selling 190 shares during the period. IDEX Corp. accounts for 3.9% of Fenimore Asset Management Inc.’s holdings, making the stock its 3rd largest position. Fenimore Asset Management Inc.’s holdings in IDEX Corp. were worth $80,445,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. Washington Trust Bank raised its position in IDEX Corp. by 3.2% in the second quarter. Washington Trust Bank now owns 1,271 shares of the company’s stock valued at $104,000 after buying an additional 39 shares during the period. Creative Planning raised its stake in shares of IDEX Corp. by 60.9% in the third quarter. Creative Planning now owns 1,326 shares of the company’s stock worth $124,000 after buying an additional 502 shares during the last quarter. Pinkerton Retirement Specialists LLC acquired a new stake in shares of IDEX Corp. during the second quarter worth about $169,000. Quantbot Technologies LP acquired a new stake in shares of IDEX Corp. during the second quarter worth about $181,000. Finally, Synovus Financial Corp raised its stake 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 last quarter. 97.53% of the stock is currently owned by institutional investors.
IDEX Corp. (NYSE:IEX) traded up 0.42% during trading on Wednesday, reaching $87.77. The company had a trading volume of 172,388 shares. The firm has a 50-day moving average price of $92.36 and a 200 day moving average price of $86.85. The stock has a market cap of $6.68 billion, a P/E ratio of 23.27 and a beta of 1.16. IDEX Corp. has a 12-month low of $67.20 and a 12-month high of $95.33.
IDEX Corp. (NYSE:IEX) last issued its quarterly earnings data on Monday, July 18th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.06. The firm earned $549.70 million during the quarter. IDEX Corp. had a net margin of 14.16% and a return on equity of 19.49%. During the same quarter in the prior year, the company posted $0.89 earnings per share. Equities research analysts predict that IDEX Corp. will post $3.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, October 13th. IDEX Corp.’s dividend payout ratio is presently 35.98%.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered IDEX Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Janney Montgomery Scott assumed coverage on IDEX Corp. in a research report on Tuesday, June 21st. They set a “neutral” rating and a $87.00 target price on the stock. Royal Bank Of Canada reaffirmed a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating on shares of IDEX Corp. in a research report on Tuesday, July 19th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of IDEX Corp. in a research report on Monday, June 27th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $85.86.
In related news, Chairman Andrew K. Silvernail sold 6,575 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $91.34, for a total value of $600,560.50. Following the completion of the sale, the chairman now directly owns 88,418 shares in the company, valued at $8,076,100.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory F. Milzcik sold 4,830 shares of the company’s stock in a transaction on Monday, August 1st. The stock was 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 of the company’s stock, valued at $483,750. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
IDEX Corp. Company Profile
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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