IDEX Corp. (IEX) Reaches New 1-Year High at $90.59
IDEX Corp. (NYSE:IEX) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $90.59 and last traded at $90.31, with a volume of 110,985 shares. The stock had previously closed at $90.00.
IEX has been the topic of several analyst reports. Zacks Investment Research lowered IDEX Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Janney Montgomery Scott started coverage on shares of IDEX Corp. in a report on Tuesday, June 21st. They issued a “neutral” rating and a $87.00 price objective on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of IDEX Corp. in a report on Monday, June 27th. Royal Bank Of Canada restated a “buy” rating on shares of IDEX Corp. in a report on Tuesday, July 12th. Finally, KeyCorp started coverage on shares of IDEX Corp. in a report on Monday, May 23rd. They issued a “sector weight” rating on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. IDEX Corp. currently has an average rating of “Hold” and a consensus price target of $85.86.
The firm’s 50-day moving average is $85.62 and its 200-day moving average is $81.00. The stock has a market capitalization of $6.94 billion and a P/E ratio of 24.15.
IDEX Corp. (NYSE:IEX) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $549.70 million for the quarter. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, analysts anticipate that IDEX Corp. will post $3.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, July 13th.
In related news, Director Gregory F. Milzcik sold 4,830 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $90.00, for a total transaction of $434,700.00. Following the sale, the director now owns 5,375 shares of the company’s stock, valued at $483,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew K. Silvernail sold 6,200 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $81.42, for a total value of $504,804.00. Following the sale, the chief executive officer now directly owns 94,993 shares in the company, valued at approximately $7,734,330.06. The disclosure for this sale can be found here.
Several hedge funds recently bought and sold shares of the stock. BlackRock Advisors LLC raised its stake in IDEX Corp. by 5.4% in the fourth quarter. BlackRock Advisors LLC now owns 139,549 shares of the company’s stock worth $10,691,000 after buying an additional 7,181 shares during the last quarter. Utah Retirement Systems raised its stake in IDEX Corp. by 0.7% in the fourth quarter. Utah Retirement Systems now owns 13,988 shares of the company’s stock worth $1,072,000 after buying an additional 100 shares during the last quarter. KBC Group NV raised its stake in IDEX Corp. by 292.3% in the fourth quarter. KBC Group NV now owns 39,579 shares of the company’s stock worth $3,032,000 after buying an additional 29,491 shares during the last quarter. Marshall Wace LLP bought a new stake in IDEX Corp. during the fourth quarter worth approximately $6,695,000. Finally, Suntrust Banks Inc. raised its stake in IDEX Corp. by 2.3% in the fourth quarter. Suntrust Banks Inc. now owns 28,051 shares of the company’s stock worth $2,147,000 after buying an additional 636 shares during the last quarter.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP).
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