OppenheimerFunds Inc. boosted its holdings in shares of IDEX Co. (NYSE:IEX) by 30.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 192,275 shares of the industrial products company’s stock after purchasing an additional 44,507 shares during the quarter. OppenheimerFunds Inc. owned about 0.25% of IDEX worth $27,401,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. purchased a new position in shares of IDEX in the 4th quarter worth approximately $118,000. Calton & Associates Inc. purchased a new stake in shares of IDEX in the 4th quarter worth $160,000. Advisor Group Inc. lifted its holdings in shares of IDEX by 166.3% in the 4th quarter. Advisor Group Inc. now owns 1,374 shares of the industrial products company’s stock worth $182,000 after buying an additional 858 shares during the period. Community Bank N.A. purchased a new stake in shares of IDEX in the 4th quarter worth $203,000. Finally, Brinker Capital Inc. purchased a new stake in shares of IDEX in the 1st quarter worth $231,000. 95.48% of the stock is currently owned by institutional investors.
In other news, Director William M. Cook sold 317 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $142.00, for a total transaction of $45,014.00. Following the sale, the director now owns 19,538 shares of the company’s stock, valued at approximately $2,774,396. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeffrey D. Bucklew sold 1,589 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $141.41, for a total value of $224,700.49. Following the sale, the senior vice president now directly owns 1,701 shares in the company, valued at approximately $240,538.41. The disclosure for this sale can be found here. Insiders have sold 37,317 shares of company stock worth $5,169,338 in the last quarter. Insiders own 1.20% of the company’s stock.
Shares of IDEX traded down $0.42, hitting $143.25, during midday trading on Friday, according to Marketbeat. 540,400 shares of the stock were exchanged, compared to its average volume of 251,574. IDEX Co. has a 52-week low of $110.25 and a 52-week high of $150.72. The firm has a market cap of $11.02 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.52 and a beta of 1.22. The company has a quick ratio of 2.48, a current ratio of 3.38 and a debt-to-equity ratio of 0.43.
IDEX (NYSE:IEX) last released its earnings results on Monday, April 30th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. The firm had revenue of $612.30 million during the quarter, compared to analyst estimates of $601.11 million. IDEX had a return on equity of 19.07% and a net margin of 15.36%. IDEX’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. sell-side analysts expect that IDEX Co. will post 5.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Tuesday, May 15th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, May 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from IDEX’s previous quarterly dividend of $0.37. IDEX’s payout ratio is 39.91%.
Several research analysts have recently commented on the company. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research report on Monday, May 28th. Robert W. Baird reduced their target price on IDEX from $160.00 to $144.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 1st. Janney Montgomery Scott reissued a “neutral” rating and issued a $140.00 price objective (up from $139.00) on shares of IDEX in a report on Tuesday, May 1st. They noted that the move was a valuation call. BMO Capital Markets increased their price objective on IDEX from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, May 1st. Finally, Stifel Nicolaus lowered their target price on IDEX from $145.00 to $140.00 and set a “hold” rating on the stock in a research note on Monday, April 16th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $137.55.
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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