Allianz Asset Management GmbH Boosts Stock Position in IDEX Corporation (NYSE:IEX)

Allianz Asset Management GmbH grew its stake in IDEX Corporation (NYSE:IEX - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 428,908 shares of the industrial products company's stock after purchasing an additional 22,271 shares during the period. Allianz Asset Management GmbH owned approximately 0.57% of IDEX worth $77,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of IDEX by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company's stock valued at $134,096,000 after purchasing an additional 73,540 shares in the last quarter. Snyder Capital Management L P lifted its holdings 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 acquiring an additional 52,259 shares during the last quarter. Amalgamated Bank lifted its holdings in IDEX by 1.0% in the first quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company's stock valued at $2,666,000 after acquiring an additional 141 shares during the last quarter. GAMMA Investing LLC lifted its holdings in IDEX by 49.0% in the first quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company's stock valued at $166,000 after acquiring an additional 301 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in 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 acquiring an additional 61 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Performance

Shares of IEX stock opened at $180.90 on Tuesday. The stock's 50-day moving average is $181.37 and its two-hundred day moving average is $187.07. The firm 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 Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $807.25 million. During the same quarter last year, the company posted $1.88 earnings per share. The business's quarterly revenue was up 1.7% compared to the same quarter last year. Analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

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

Insider Activity

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

Analyst Ratings Changes

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

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.

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