IDEX Co. (NYSE:IEX) CFO Sells $45,222.50 in Stock

IDEX Co. (NYSE:IEX) CFO Akhil Mahendra sold 250 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the completion of the sale, the chief financial officer now directly owns 5,035 shares of the company’s stock, valued at $910,781.15. The trade was a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

IDEX Trading Down 0.5%

Shares of IDEX stock opened at $183.25 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX Co. has a 12-month low of $153.36 and a 12-month high of $238.22. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.98 and a beta of 1.06. The firm’s 50 day simple moving average is $177.19 and its two-hundred day simple moving average is $195.38.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The business had revenue of $814.30 million for the quarter, compared to analyst estimates of $807.25 million. During the same quarter in the prior year, the business posted $1.88 EPS. IDEX’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts predict that IDEX Co. will post 8.26 EPS for the current year.

IDEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from IDEX’s previous quarterly dividend of $0.69. IDEX’s dividend payout ratio is presently 45.01%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IEX. DA Davidson lowered their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus increased their target price on shares of IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Citigroup decreased their target price on shares of IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Mizuho set a $185.00 target price on shares of IDEX in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.50.

Institutional Trading of IDEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IFM Investors Pty Ltd increased its stake in shares of IDEX by 1.1% in the first quarter. IFM Investors Pty Ltd now owns 18,818 shares of the industrial products company’s stock worth $3,405,000 after acquiring an additional 210 shares during the period. Glenview Trust co increased its stake in shares of IDEX by 4.9% in the first quarter. Glenview Trust co now owns 6,829 shares of the industrial products company’s stock worth $1,236,000 after acquiring an additional 321 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of IDEX by 2.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 769,341 shares of the industrial products company’s stock worth $139,228,000 after acquiring an additional 21,787 shares during the period. Empowered Funds LLC increased its stake in shares of IDEX by 3.4% in the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 54 shares during the period. Finally, MBB Public Markets I LLC acquired a new stake in shares of IDEX in the first quarter worth $310,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

About IDEX

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.