Regents Gate Capital LLP Acquires New Shares in IDEX Corporation (NYSE:IEX)

Regents Gate Capital LLP acquired a new stake in IDEX Corporation (NYSE:IEX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 56,455 shares of the industrial products company's stock, valued at approximately $10,217,000. IDEX accounts for about 4.3% of Regents Gate Capital LLP's investment portfolio, making the stock its 8th largest holding. Regents Gate Capital LLP owned about 0.07% of IDEX as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in IDEX by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company's stock worth $1,947,654,000 after acquiring an additional 63,432 shares during the period. Wellington Management Group LLP grew its stake in IDEX by 49.1% in the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock worth $883,119,000 after acquiring an additional 1,388,667 shares during the period. Price T Rowe Associates Inc. MD grew its stake in IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after acquiring an additional 277,964 shares during the period. Impax Asset Management Group plc grew its stake in IDEX by 11.5% in the 1st quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after acquiring an additional 207,172 shares during the period. Finally, Geode Capital Management LLC grew its stake in IDEX by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company's stock worth $399,350,000 after acquiring an additional 21,758 shares during the period. Institutional investors and hedge funds own 97.96% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price objective 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. Stifel Nicolaus boosted their price objective on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Robert W. Baird set a $215.00 price objective on shares of IDEX in a research note on Friday, May 2nd. Mizuho set a $185.00 price objective on shares of IDEX in a research note on Friday, May 16th. Finally, Citigroup decreased their price target on shares of IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, IDEX presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.50.

IDEX Stock Performance

IEX traded down $3.82 during trading hours on Friday, hitting $181.61. The company's stock had a trading volume of 646,834 shares, compared to its average volume of 603,884. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week 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 firm has a market capitalization of $13.72 billion, a PE ratio of 28.78, a PEG ratio of 1.87 and a beta of 1.04. The company has a 50-day simple moving average of $181.41 and a 200 day simple moving average of $188.57.

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, beating 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 firm had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. During the same period last year, the firm earned $1.88 EPS. The firm's revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, July 11th. IDEX's payout ratio is currently 45.01%.

Insider Buying and Selling at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of the firm'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 completion of the sale, the chief financial officer directly owned 5,035 shares of the company's stock, valued at $910,781.15. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

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.