Amalgamated Bank Grows Stake in IDEX Corporation (NYSE:IEX)

Amalgamated Bank increased its stake in shares of IDEX Corporation (NYSE:IEX) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,731 shares of the industrial products company’s stock after purchasing an additional 141 shares during the period. Amalgamated Bank’s holdings in IDEX were worth $2,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IEX. MassMutual Private Wealth & Trust FSB increased its stake in IDEX by 81.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock worth $26,000 after buying an additional 64 shares in the last quarter. Banque de Luxembourg S.A. purchased a new stake in shares of IDEX during the fourth quarter worth approximately $27,000. UMB Bank n.a. increased its position in shares of IDEX by 63.5% during the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 87 shares in the last quarter. Quarry LP acquired a new position in IDEX in the 4th quarter valued at $49,000. Finally, Versant Capital Management Inc lifted its holdings in IDEX by 970.7% in the 1st quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 398 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEX

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

IDEX Stock Down 0.5%

Shares of NYSE IEX opened at $181.25 on Friday. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a market capitalization of $13.69 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.84 and a beta of 1.04. The company has a 50 day simple moving average of $180.68 and a 200-day simple moving average of $189.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.79 and a quick ratio of 1.99.

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

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, July 11th. IDEX’s dividend payout ratio (DPR) is presently 45.01%.

Wall Street Analyst Weigh In

IEX has been the subject of a number of research reports. Royal Bank Of Canada upped their target price on shares of IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Stifel Nicolaus increased their price objective on shares of IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Citigroup lowered their target price on IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Finally, Mizuho set a $185.00 price objective on IDEX in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $212.50.

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.