IDEX Corp. (IEX) Hits New 52-Week High at $92.10
IDEX Corp. (NYSE:IEX)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $92.10 and last traded at $91.88, with a volume of 74,068 shares traded. The stock had previously closed at $91.88.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of IDEX Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Jefferies Group restated a “hold” rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. Janney Montgomery Scott upgraded shares of IDEX Corp. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $87.00 to $96.00 in a research note on Tuesday, July 19th. Royal Bank Of Canada restated a “buy” rating on shares of IDEX Corp. in a research note on Tuesday, July 12th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of IDEX Corp. in a research note on Monday, June 27th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. IDEX Corp. presently has an average rating of “Hold” and a consensus price target of $85.86.
The company’s 50 day moving average price is $85.95 and its 200-day moving average price is $81.49. The stock has a market capitalization of $7.01 billion and a P/E ratio of 24.40.
IDEX Corp. (NYSE:IEX) last issued its earnings results on Monday, July 18th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. During the same quarter in the previous year, the business earned $0.89 earnings per share. The firm had revenue of $549.70 million for the quarter. Equities analysts forecast that IDEX Corp. will post $3.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders 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 yield of 1.48%. The ex-dividend date of this dividend was Wednesday, July 13th.
In other IDEX Corp. news, Director Gregory F. Milzcik sold 4,830 shares of IDEX Corp. stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $90.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew K. Silvernail sold 6,200 shares of IDEX Corp. stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $81.42, for a total transaction of $504,804.00. Following the transaction, the chief executive officer now directly owns 94,993 shares in the company, valued at $7,734,330.06. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in IEX. BlackRock Advisors LLC boosted its stake in shares of 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 in the last quarter. Utah Retirement Systems boosted its stake in shares of 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 in the last quarter. KBC Group NV boosted its stake in shares of 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 in the last quarter. Marshall Wace LLP bought a new stake in shares of IDEX Corp. during the fourth quarter worth $6,695,000. Finally, Suntrust Banks Inc. boosted its stake in shares of 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 in 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).