Mutual of America Capital Management LLC Sells 265 Shares of IDEX Corporation (NYSE:IEX)

Mutual of America Capital Management LLC cut its stake in shares of IDEX Corporation (NYSE:IEX) by 2.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,808 shares of the industrial products company’s stock after selling 265 shares during the quarter. Mutual of America Capital Management LLC’s holdings in IDEX were worth $1,594,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of IDEX by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock valued at $767,421,000 after acquiring an additional 277,964 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of IDEX by 11.5% during the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company’s stock valued at $363,157,000 after acquiring an additional 207,172 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of IDEX by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,868,919 shares of the industrial products company’s stock valued at $391,147,000 after acquiring an additional 17,087 shares during the period. Barclays PLC raised its holdings in shares of IDEX by 1.4% in the fourth quarter. Barclays PLC now owns 1,194,125 shares of the industrial products company’s stock valued at $249,922,000 after buying an additional 16,480 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of IDEX by 11.1% in the fourth quarter. First Trust Advisors LP now owns 1,056,677 shares of the industrial products company’s stock valued at $221,152,000 after buying an additional 105,960 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IEX shares. Citigroup lifted their price target on IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a report on Monday, July 14th. Oppenheimer cut their price target on IDEX from $224.00 to $212.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Stifel Nicolaus cut their price target on IDEX from $238.00 to $204.00 and set a “buy” rating for the company in a report on Thursday, July 31st. DA Davidson set a $180.00 price target on IDEX and gave the company a “neutral” rating in a report on Monday, August 4th. Finally, Royal Bank Of Canada cut their price target on IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and an average price target of $201.71.

Insiders Place Their Bets

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the business’s stock in a transaction dated 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 directly owned 5,035 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

IDEX Stock Performance

Shares of NYSE:IEX opened at $158.24 on Friday. The stock has a market capitalization of $11.91 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.67 and a beta of 1.04. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $177.30 and a two-hundred day moving average price of $182.97.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.07. The firm had revenue of $865.40 million during the quarter, compared to analysts’ expectations of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.06 EPS. Equities analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, July 11th. IDEX’s payout ratio is currently 45.88%.

IDEX Profile

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.