BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stock Position in IDEX Corporation $IEX

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its holdings in IDEX Corporation (NYSE:IEX) by 3.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,907 shares of the industrial products company’s stock after selling 3,883 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in IDEX were worth $18,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IEX. Banque de Luxembourg S.A. purchased a new stake in shares of IDEX during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 64 shares during the last quarter. UMB Bank n.a. raised its position in shares of IDEX by 63.5% during the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock valued at $41,000 after buying an additional 87 shares during the period. Quarry LP acquired a new stake in IDEX in the 4th quarter valued at approximately $49,000. Finally, Federated Hermes Inc. boosted its position in IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock valued at $60,000 after buying an additional 100 shares during the period. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Performance

NYSE:IEX opened at $164.79 on Monday. The stock has a market cap of $12.41 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.74 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 stock’s 50-day moving average is $175.64 and its 200-day moving average is $180.71. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.07. The company had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $2.06 earnings per share. Equities research analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. IDEX’s dividend payout ratio (DPR) is currently 45.88%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. DA Davidson set a $180.00 price objective on IDEX and gave the company a “neutral” rating in a report on Monday, August 4th. Citigroup raised their price objective on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Stifel Nicolaus cut their target price on IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Royal Bank Of Canada lowered their price objective on IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Finally, Mizuho set a $185.00 price target on IDEX in a research note on Friday, May 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.71.

Insider Buying and Selling

In related 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 owned 5,035 shares in the company, valued at approximately $910,781.15. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.