Premier Fund Managers Ltd Increases Stock Position in IDEX Corporation (NYSE:IEX)

Premier Fund Managers Ltd boosted its position in shares of IDEX Corporation (NYSE:IEX) by 0.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 300,122 shares of the industrial products company’s stock after acquiring an additional 122 shares during the period. IDEX makes up approximately 2.0% of Premier Fund Managers Ltd’s portfolio, making the stock its 17th largest position. Premier Fund Managers Ltd’s holdings in IDEX were worth $54,268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of IDEX by 1.0% during the 1st quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company’s stock valued at $1,084,000 after acquiring an additional 60 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in IDEX by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company’s stock worth $1,031,000 after purchasing an additional 61 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in IDEX by 0.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company’s stock worth $1,508,000 after purchasing an additional 61 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 64 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in shares of IDEX by 3.2% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,127 shares of the industrial products company’s stock valued at $445,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE:IEX opened at $184.56 on Tuesday. The company has a market cap of $13.94 billion, a P/E ratio of 29.25, a P/E/G ratio of 1.88 and a beta of 1.04. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22. The company’s 50-day moving average price is $180.64 and its 200-day moving average price is $186.06. The company has a current ratio of 2.79, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. IDEX had a net margin of 14.60% and a return on equity of 15.51%. IDEX’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. On average, sell-side analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, July 11th. IDEX’s dividend payout ratio (DPR) is currently 45.01%.

Wall Street Analyst Weigh In

IEX has been the topic of a number of recent analyst reports. Citigroup increased their target price on IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Stifel Nicolaus upped their price objective on shares of IDEX from $208.00 to $238.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Mizuho set a $185.00 target price on shares of IDEX in a research report on Friday, May 16th. Royal Bank Of Canada upped their price target on shares of IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Robert W. Baird set a $215.00 price target on shares of IDEX in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Insider Transactions at IDEX

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer directly owned 5,035 shares of the company’s stock, valued at $910,781.15. This trade represents a 4.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by 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.