Callan Family Office LLC Acquires 5,265 Shares of IDEX Corporation $IEX

Callan Family Office LLC increased its holdings in IDEX Corporation (NYSE:IEX) by 199.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,910 shares of the industrial products company’s stock after purchasing an additional 5,265 shares during the quarter. Callan Family Office LLC’s holdings in IDEX were worth $1,389,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IEX. UMB Bank n.a. grew its stake in shares of IDEX by 63.5% in the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 87 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of IDEX by 49.0% in the first quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 301 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of IDEX by 329.0% in the first quarter. SG Americas Securities LLC now owns 9,193 shares of the industrial products company’s stock worth $1,664,000 after purchasing an additional 7,050 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in IDEX by 5.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 1,917 shares of the industrial products company’s stock valued at $347,000 after acquiring an additional 92 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in IDEX by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the industrial products company’s stock valued at $930,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of NYSE IEX opened at $161.12 on Monday. The firm’s 50-day moving average price is $163.12 and its 200-day moving average price is $172.62. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The firm has a market capitalization of $12.13 billion, a P/E ratio of 26.03, a P/E/G ratio of 1.70 and a beta of 1.04. 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 announced its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The firm had revenue of $712.00 million for the quarter. Equities research analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX announced that its board has authorized a share buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, October 10th. This represents a $2.84 annualized dividend and a dividend yield of 1.8%. IDEX’s dividend payout ratio is currently 45.88%.

Analyst Ratings Changes

A number of brokerages have commented on IEX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Stifel Nicolaus cut their price target on shares of IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. DA Davidson set a $180.00 price target on shares of IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Oppenheimer set a $210.00 price target on shares of IDEX in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada cut their price target on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.43.

IDEX Company 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.