State of Alaska Department of Revenue Has $1.60 Million Position in IDEX Corporation (NYSE:IEX)

State of Alaska Department of Revenue grew its holdings in IDEX Corporation (NYSE:IEX) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,868 shares of the industrial products company’s stock after purchasing an additional 235 shares during the quarter. State of Alaska Department of Revenue’s holdings in IDEX were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of IDEX by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company’s stock valued at $134,096,000 after acquiring an additional 73,540 shares in the last quarter. Snyder Capital Management L P increased its stake in IDEX by 12.2% in the fourth quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company’s stock valued at $100,500,000 after purchasing an additional 52,259 shares in the last quarter. Assetmark Inc. raised its holdings in shares of IDEX by 129.1% during the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 235 shares during the period. Proficio Capital Partners LLC bought a new position in shares of IDEX during the 4th quarter worth about $10,212,000. Finally, Corient Private Wealth LLC grew its stake in shares of IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock valued at $53,740,000 after buying an additional 180,601 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 1.3%

NYSE IEX opened at $174.97 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $13.22 billion, a P/E ratio of 27.73, a PEG ratio of 1.75 and a beta of 1.06. The business has a fifty day simple moving average of $178.79 and a 200 day simple moving average of $191.73. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22.

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

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, July 11th. IDEX’s payout ratio is 45.01%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IEX. Citigroup dropped their price target on IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus upped their target price on IDEX from $192.00 to $208.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Robert W. Baird set a $215.00 target price on IDEX in a report on Friday, May 2nd. Royal Bank Of Canada boosted their price target on shares of IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, Mizuho set a $185.00 price objective on shares of IDEX in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, IDEX has an average rating of “Moderate Buy” and an average target price of $212.50.

Insider Buying and Selling

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the transaction, the chief financial officer now directly owns 5,035 shares in the company, valued at $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate 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.