Stone Ridge Asset Management LLC increased its stake in IDEX Co. (NYSE:IEX) by 25.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,669 shares of the industrial products company’s stock after acquiring an additional 2,600 shares during the period. Stone Ridge Asset Management LLC’s holdings in IDEX were worth $2,179,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Redpoint Investment Management Pty Ltd purchased a new position in shares of IDEX during the third quarter valued at approximately $239,000. SG Americas Securities LLC raised its stake in shares of IDEX by 9.8% during the fourth quarter. SG Americas Securities LLC now owns 28,384 shares of the industrial products company’s stock valued at $4,882,000 after acquiring an additional 2,525 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of IDEX during the third quarter valued at approximately $42,000. Huntington National Bank raised its stake in shares of IDEX by 14.0% during the third quarter. Huntington National Bank now owns 694 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 85 shares in the last quarter. Finally, BBVA USA Bancshares Inc. raised its stake in shares of IDEX by 33.3% during the third quarter. BBVA USA Bancshares Inc. now owns 7,778 shares of the industrial products company’s stock valued at $1,275,000 after acquiring an additional 1,943 shares in the last quarter. Institutional investors own 97.56% of the company’s stock.
Several analysts have recently weighed in on the stock. Robert W. Baird decreased their price target on shares of IDEX from $180.00 to $178.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $185.00 price target on shares of IDEX in a research note on Wednesday, January 29th. Royal Bank of Canada decreased their price target on shares of IDEX from $180.00 to $174.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, Janney Montgomery Scott downgraded shares of IDEX from a “neutral” rating to a “sell” rating and set a $151.00 price target for the company. in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $176.22.
In related news, SVP Jeffrey D. Bucklew sold 4,680 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $162.97, for a total value of $762,699.60. Following the completion of the transaction, the senior vice president now owns 5,808 shares of the company’s stock, valued at $946,529.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Yates sold 14,871 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $162.76, for a total transaction of $2,420,403.96. Following the completion of the transaction, the chief accounting officer now directly owns 6,197 shares of the company’s stock, valued at approximately $1,008,623.72. The disclosure for this sale can be found here. Insiders sold 43,393 shares of company stock valued at $7,036,448 in the last three months. 1.20% of the stock is currently owned by insiders.
Shares of IDEX stock traded down $0.45 on Friday, hitting $174.24. 5,193 shares of the company traded hands, compared to its average volume of 374,182. The company has a market cap of $13.27 billion, a PE ratio of 31.41, a PEG ratio of 3.04 and a beta of 1.21. IDEX Co. has a 52 week low of $140.74 and a 52 week high of $178.14. The company has a current ratio of 3.52, a quick ratio of 2.70 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $171.98 and its 200-day moving average price is $165.20.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). The business had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.66 million. IDEX had a return on equity of 20.68% and a net margin of 17.06%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.31 EPS. As a group, research analysts anticipate that IDEX Co. will post 5.73 EPS for the current fiscal year.
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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