M&T Bank Corp lessened its stake in IDEX Co. (NYSE:IEX) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,680 shares of the industrial products company’s stock after selling 1,796 shares during the period. M&T Bank Corp’s holdings in IDEX were worth $2,613,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. ETF Managers Group LLC grew its holdings in shares of IDEX by 18.9% in the 4th quarter. ETF Managers Group LLC now owns 930 shares of the industrial products company’s stock valued at $117,000 after buying an additional 148 shares during the period. Robecosam AG grew its holdings in shares of IDEX by 13.0% in the 4th quarter. Robecosam AG now owns 131,756 shares of the industrial products company’s stock valued at $16,359,000 after buying an additional 15,112 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of IDEX by 24.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,549 shares of the industrial products company’s stock valued at $448,000 after buying an additional 689 shares during the period. Creative Planning grew its holdings in shares of IDEX by 20.0% in the 4th quarter. Creative Planning now owns 5,395 shares of the industrial products company’s stock valued at $681,000 after buying an additional 898 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in shares of IDEX by 110.6% in the 4th quarter. Dupont Capital Management Corp now owns 52,161 shares of the industrial products company’s stock valued at $6,586,000 after buying an additional 27,397 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.
Several equities analysts have recently issued reports on IEX shares. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a report on Thursday, December 13th. Boenning Scattergood reissued a “hold” rating on shares of IDEX in a report on Wednesday, January 30th. UBS Group set a $142.00 target price on shares of IDEX and gave the stock a “hold” rating in a research note on Friday, October 26th. Finally, Robert W. Baird reduced their target price on shares of IDEX from $145.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $145.70.
IDEX (NYSE:IEX) last announced its earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.04. The firm had revenue of $614.09 million during the quarter, compared to analyst estimates of $617.72 million. IDEX had a net margin of 16.53% and a return on equity of 20.83%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. Sell-side analysts expect that IDEX Co. will post 5.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 30th. Investors of record on Tuesday, January 15th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Monday, January 14th. IDEX’s payout ratio is presently 31.79%.
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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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