Mediolanum International Funds Ltd Takes Position in IDEX Co. (NYSE:IEX)

Mediolanum International Funds Ltd acquired a new stake in IDEX Co. (NYSE:IEXFree Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 29,273 shares of the industrial products company’s stock, valued at approximately $7,175,000.

Other institutional investors have also modified their holdings of the company. Planned Solutions Inc. bought a new stake in shares of IDEX in the 4th quarter valued at approximately $33,000. Riverview Trust Co bought a new stake in shares of IDEX in the 1st quarter valued at approximately $35,000. Quarry LP bought a new stake in shares of IDEX in the 4th quarter valued at approximately $36,000. EdgeRock Capital LLC bought a new stake in shares of IDEX in the 4th quarter valued at approximately $48,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of IDEX during the 4th quarter worth approximately $50,000. 97.96% of the stock is owned by institutional investors.

IDEX Stock Up 1.6 %

IEX stock traded up $3.21 on Wednesday, hitting $198.45. 386,814 shares of the company’s stock were exchanged, compared to its average volume of 419,970. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36. The firm has a 50 day moving average price of $209.04 and a two-hundred day moving average price of $220.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The stock has a market cap of $15.02 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.95.

IDEX (NYSE:IEXGet Free Report) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same period in the previous year, the business earned $2.09 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that IDEX Co. will post 8.31 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.39%. IDEX’s dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

IEX has been the subject of a number of research analyst reports. raised IDEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Oppenheimer raised their price target on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Citigroup raised their price objective on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Robert W. Baird reduced their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from, the company has a consensus rating of “Moderate Buy” and an average price target of $250.71.

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About IDEX

(Free Report)

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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