Louisiana State Employees Retirement System lowered its stake in shares of IDEX Co. (NYSE:IEX) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,300 shares of the industrial products company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in IDEX were worth $3,080,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of IDEX by 0.7% during the 4th quarter. BlackRock Inc. now owns 7,982,637 shares of the industrial products company’s stock valued at $1,007,886,000 after purchasing an additional 53,470 shares during the last quarter. Vanguard Group Inc grew its position 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 purchasing an additional 95,176 shares during the period. Oregon Public Employees Retirement Fund grew its position 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 purchasing an additional 4,809,330 shares during the period. FMR LLC grew its position 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 purchasing an additional 621,397 shares during the period. Finally, Clearbridge Investments LLC grew its position 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 purchasing an additional 17,572 shares during the period. Institutional investors own 94.63% of the company’s stock.
In other news, SVP Jeffrey D. Bucklew sold 2,255 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $143.02, for a total transaction of $322,510.10. Following the sale, the senior vice president now directly owns 2,255 shares in the company, valued at approximately $322,510.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael J. Yates sold 11,397 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 26,590 shares in the company, valued at $3,848,104.80. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
IEX traded down $0.67 during midday trading on Monday, hitting $156.60. 3,234 shares of the company were exchanged, compared to its average volume of 281,794. The company has a market capitalization of $11.94 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.23 and a current ratio of 3.00. IDEX Co. has a 1-year low of $117.72 and a 1-year high of $159.10.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.04. IDEX had a return on equity of 20.82% and a net margin of 16.53%. The company had revenue of $614.09 million for the quarter, compared to the consensus estimate of $617.72 million. During the same period last year, the firm earned $1.12 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts forecast that IDEX Co. will post 5.73 EPS for the current year.
IEX has been the topic of several analyst reports. Royal Bank of Canada raised IDEX from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $141.00 to $146.00 in a research report on Thursday, January 3rd. Zacks Investment Research downgraded IDEX from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of IDEX in a research report on Wednesday, January 30th. Finally, Janney Montgomery Scott downgraded IDEX from a “buy” rating to a “neutral” rating in a research report on Friday, March 29th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $146.33.
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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