Yousif Capital Management LLC Has $1.81 Million Stock Position in IDEX Co. (NYSE:IEX)

Yousif Capital Management LLC cut its position in IDEX Co. (NYSE:IEX) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,979 shares of the industrial products company’s stock after selling 109 shares during the period. Yousif Capital Management LLC’s holdings in IDEX were worth $1,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in IDEX by 22.9% in the fourth quarter. Empowered Funds LLC now owns 1,592 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 297 shares during the period. Asset Management One Co. Ltd. grew its position in IDEX by 4.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock valued at $6,386,000 after purchasing an additional 1,209 shares during the period. Vontobel Holding Ltd. raised its holdings in IDEX by 69.9% during the fourth quarter. Vontobel Holding Ltd. now owns 28,975 shares of the industrial products company’s stock worth $6,064,000 after buying an additional 11,925 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of IDEX by 6.1% in the fourth quarter. Handelsbanken Fonder AB now owns 20,800 shares of the industrial products company’s stock valued at $4,353,000 after buying an additional 1,200 shares in the last quarter. Finally, Boston Financial Mangement LLC acquired a new position in shares of IDEX during the fourth quarter valued at about $226,000. 97.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IEX has been the topic of several recent research reports. Robert W. Baird set a $215.00 price target on shares of IDEX in a research report on Friday, May 2nd. Royal Bank of Canada raised their target price on IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. DA Davidson decreased their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Mizuho set a $185.00 price objective on IDEX in a research note on Friday, May 16th. Finally, Stifel Nicolaus upped their target price on shares of IDEX from $192.00 to $208.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.50.

Insider Buying and Selling at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer now owns 5,035 shares of the company’s stock, valued at $910,781.15. This represents a 4.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

IDEX Stock Down 2.6%

Shares of NYSE:IEX opened at $177.69 on Monday. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a market capitalization of $13.42 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The business has a fifty day moving average price of $177.89 and a two-hundred day moving average price of $194.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 earnings per share. Analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a $0.71 dividend. This is an increase from IDEX’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.84 annualized dividend and a yield of 1.60%. IDEX’s dividend payout ratio is presently 45.01%.

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.