1,950 Shares in IDEX Corporation (NYSE:IEX) Purchased by South Dakota Investment Council

South Dakota Investment Council acquired a new stake in shares of IDEX Corporation (NYSE:IEX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,950 shares of the industrial products company's stock, valued at approximately $353,000.

Other institutional investors also recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in IDEX by 1.0% in the 1st quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock valued at $1,084,000 after purchasing an additional 60 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of IDEX by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock worth $1,031,000 after acquiring an additional 61 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of IDEX by 0.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock valued at $1,508,000 after purchasing an additional 61 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings 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 valued at $26,000 after acquiring an additional 64 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its holdings in IDEX by 3.2% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,127 shares of the industrial products company's stock valued at $445,000 after purchasing an additional 66 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Price Performance

IEX stock opened at $180.90 on Tuesday. The firm has a 50 day moving average of $181.37 and a 200-day moving average of $187.07. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $238.22. 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 company has a market cap of $13.66 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 1.86 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 14.60% and a return on equity of 15.51%. The firm had revenue of $814.30 million during the quarter, compared to analysts' expectations of $807.25 million. During the same quarter in the prior year, the firm earned $1.88 EPS. IDEX's quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, July 11th. IDEX's dividend payout ratio (DPR) is currently 45.01%.

Insider Buying and Selling at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of the company'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 owned 5,035 shares in the company, valued at approximately $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 accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price objective on IDEX from $208.00 to $238.00 and gave the stock a "buy" rating in a report on Monday. Citigroup increased their price target on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 14th. Mizuho set a $185.00 price target on IDEX in a report on Friday, May 16th. Royal Bank Of Canada increased their price target on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Robert W. Baird set a $215.00 price target on IDEX in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, IDEX presently has a consensus rating of "Moderate Buy" and an average price target of $218.13.

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.

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