Envestnet Asset Management Inc. raised its holdings in IDEX Co. (NYSE:IEX – Get Rating) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,270 shares of the industrial products company’s stock after purchasing an additional 7,214 shares during the quarter. Envestnet Asset Management Inc.’s holdings in IDEX were worth $23,826,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC increased its stake in IDEX by 0.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 10,078 shares of the industrial products company’s stock valued at $2,382,000 after purchasing an additional 52 shares in the last quarter. First Republic Investment Management Inc. increased its stake in IDEX by 0.6% in the 4th quarter. First Republic Investment Management Inc. now owns 8,095 shares of the industrial products company’s stock valued at $1,913,000 after purchasing an additional 52 shares in the last quarter. Fifth Third Bancorp increased its stake in IDEX by 4.3% in the 4th quarter. Fifth Third Bancorp now owns 1,355 shares of the industrial products company’s stock valued at $320,000 after purchasing an additional 56 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in IDEX by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 15,585 shares of the industrial products company’s stock valued at $3,683,000 after purchasing an additional 61 shares in the last quarter. Finally, Buffington Mohr McNeal increased its stake in IDEX by 2.3% in the 1st quarter. Buffington Mohr McNeal now owns 2,736 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 62 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
IEX has been the subject of several research analyst reports. StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Royal Bank of Canada reissued a “maintains” rating on shares of IDEX in a research report on Thursday, July 28th. Citigroup raised their price target on IDEX from $219.00 to $228.00 in a research report on Thursday, July 28th. Stifel Nicolaus downgraded IDEX from a “buy” rating to a “hold” rating and dropped their price target for the stock from $229.00 to $188.00 in a research report on Monday, July 18th. Finally, Loop Capital dropped their price target on IDEX from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $219.82.
IDEX Price Performance
IDEX (NYSE:IEX – Get Rating) last issued its earnings results on Tuesday, July 26th. The industrial products company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. IDEX had a return on equity of 19.50% and a net margin of 17.24%. During the same period in the previous year, the company earned $1.61 EPS. Equities research analysts forecast that IDEX Co. will post 7.93 EPS for the current year.
IDEX Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Thursday, July 14th. IDEX’s payout ratio is currently 35.82%.
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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
- Get a free copy of the StockNews.com research report on IDEX (IEX)
- AMD Q2 Earnings Beat Expectations Significantly, Is AMD A Buy?
- 3 Health Care Stocks in Great Financial Health
- Amazon Names Itself A Top Stock Of Q3 Contender
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Are Baidu’s Delisting Fears a Good Entry for New Investors?
Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.