Amalgamated Bank Reduces Holdings in IDEX Co. (NYSE:IEX)

Amalgamated Bank lowered its position in IDEX Co. (NYSE:IEX) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,186 shares of the industrial products company’s stock after selling 1,973 shares during the quarter. Amalgamated Bank’s holdings in IDEX were worth $3,948,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Alecta Tjanstepension Omsesidigt lifted its stake in IDEX by 420.8% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after purchasing an additional 631,172 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in IDEX by 316.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock valued at $76,667,000 after acquiring an additional 280,385 shares during the period. Assenagon Asset Management S.A. grew its position in IDEX by 6,079.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 189,143 shares of the industrial products company’s stock valued at $41,065,000 after acquiring an additional 186,082 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of IDEX by 1,196.4% during the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock worth $29,598,000 after purchasing an additional 125,348 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its stake in shares of IDEX by 112.4% during the fourth quarter. Boston Trust Walden Corp now owns 201,152 shares of the industrial products company’s stock valued at $43,672,000 after purchasing an additional 106,431 shares during the period. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Robert W. Baird reduced their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEX has an average rating of “Moderate Buy” and an average price target of $250.71.

IDEX Trading Up 0.1 %

Shares of NYSE IEX opened at $222.07 on Thursday. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The business has a fifty day moving average price of $234.36 and a 200 day moving average price of $217.91. The stock has a market capitalization of $16.81 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. During the same period in the prior year, the firm posted $2.09 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts expect that IDEX Co. will post 8.33 EPS for the current fiscal year.

IDEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.69 dividend. This is a boost from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, May 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.24%. IDEX’s dividend payout ratio (DPR) is presently 33.68%.

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.