Inspire Advisors LLC Acquires Shares of 4,141 IDEX Corporation (NYSE:IEX)

by · The Markets Daily

Inspire Advisors LLC acquired a new stake in IDEX Corporation (NYSE:IEX – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,141 shares of the industrial products company’s stock, valued at approximately $749,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of IDEX by 13.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company’s stock worth $134,096,000 after acquiring an additional 73,540 shares during the period. Snyder Capital Management L P raised its holdings in shares of IDEX by 12.2% during the 4th quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company’s stock worth $100,500,000 after acquiring an additional 52,259 shares during the period. Amalgamated Bank raised its holdings in shares of IDEX by 1.0% during the 1st quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company’s stock worth $2,666,000 after acquiring an additional 141 shares during the period. GAMMA Investing LLC raised its holdings in shares of IDEX by 49.0% during the 1st quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company’s stock worth $166,000 after acquiring an additional 301 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of IDEX by 0.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company’s stock worth $1,508,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their price target on IDEX from $208.00 to $238.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Royal Bank Of Canada lifted their price target on IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Robert W. Baird set a $215.00 price objective on IDEX in a research report on Friday, May 2nd. Mizuho set a $185.00 price objective on IDEX in a research report on Friday, May 16th. Finally, Citigroup raised their price objective on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Read Our Latest Research Report on IEX

IDEX Stock Up 1.0%

Shares of NYSE:IEX opened at $185.51 on Monday. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.88 and a beta of 1.04. The company has a current ratio of 2.79, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $180.74 and a 200 day moving average price of $186.21. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $238.22.

IDEX (NYSE:IEX – Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. The company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. IDEX had a return on equity of 15.51% and a net margin of 14.60%. IDEX’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 EPS. Sell-side analysts expect that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, July 11th. IDEX’s dividend payout ratio is currently 45.01%.

Insiders Place Their Bets

In other IDEX news, CFO Akhil Mahendra sold 250 shares of IDEX stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the transaction, the chief financial officer directly owned 5,035 shares of the company’s stock, valued at $910,781.15. The trade was a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

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.

See Also

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