BlackRock Advisors LLC Has $11,368,000 Stake in IDEX Corp. (IEX)
BlackRock Advisors LLC increased its position in IDEX Corp. (NYSE:IEX) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 138,464 shares of the company’s stock after buying an additional 1,617 shares during the period. BlackRock Advisors LLC owned about 0.18% of IDEX Corp. worth $11,368,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in IEX. Wellington Management Group LLP boosted its position in shares of IDEX Corp. by 12.7% in the first quarter. Wellington Management Group LLP now owns 2,571,528 shares of the company’s stock worth $213,127,000 after buying an additional 289,735 shares during the period. Schroder Investment Management Group boosted its position in shares of IDEX Corp. by 12.0% in the second quarter. Schroder Investment Management Group now owns 807,280 shares of the company’s stock worth $66,278,000 after buying an additional 86,700 shares during the period. Aperio Group LLC boosted its position in shares of IDEX Corp. by 8.7% in the first quarter. Aperio Group LLC now owns 26,765 shares of the company’s stock worth $2,218,000 after buying an additional 2,134 shares during the period. Ameriprise Financial Inc. boosted its position in shares of IDEX Corp. by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 207,547 shares of the company’s stock worth $17,040,000 after buying an additional 945 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in shares of IDEX Corp. by 5.5% in the first quarter. Glenmede Trust Co. NA now owns 8,016 shares of the company’s stock worth $664,000 after buying an additional 416 shares during the period. 97.53% of the stock is currently owned by institutional investors and hedge funds.
IDEX Corp. (NYSE:IEX) opened at 90.40 on Friday. IDEX Corp. has a 1-year low of $67.20 and a 1-year high of $95.33. The stock has a market capitalization of $6.88 billion, a PE ratio of 23.97 and a beta of 1.16. The stock’s 50 day moving average price is $92.64 and its 200 day moving average price is $86.73.
IDEX Corp. (NYSE:IEX) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. IDEX Corp. had a return on equity of 19.49% and a net margin of 14.16%. The company earned $549.70 million during the quarter. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities research analysts predict that IDEX Corp. will post $3.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, October 13th. IDEX Corp.’s payout ratio is presently 35.98%.
IEX has been the topic of a number of analyst reports. Zacks Investment Research cut IDEX Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of IDEX Corp. in a research note on Monday, June 27th. Janney Montgomery Scott raised IDEX Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $87.00 to $96.00 in a research note on Tuesday, July 19th. Jefferies Group reaffirmed a “hold” rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of IDEX Corp. in a research note on Tuesday, July 12th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. IDEX Corp. currently has an average rating of “Hold” and a consensus price target of $85.86.
In related news, Chairman Andrew K. Silvernail sold 6,575 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $91.34, for a total transaction of $600,560.50. Following the completion of the transaction, the chairman now directly owns 88,418 shares of the company’s stock, valued at $8,076,100.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory F. Milzcik sold 4,830 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $90.00, for a total value of $434,700.00. Following the transaction, the director now directly owns 5,375 shares of the company’s stock, valued at $483,750. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
IDEX Corp. Company Profile
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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