Bank of New York Mellon Corp Sells 31,768 Shares of IDEX Corporation (NYSE:IEX)

Bank of New York Mellon Corp decreased its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 611,422 shares of the industrial products company's stock after selling 31,768 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of IDEX worth $110,649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IEX. Dimensional Fund Advisors LP raised its position 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 buying an additional 73,540 shares in the last quarter. Snyder Capital Management L P raised its position in shares of IDEX by 12.2% in the 4th quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company's stock valued at $100,500,000 after buying an additional 52,259 shares in the last quarter. Amalgamated Bank raised its position in shares of IDEX by 1.0% in the 1st quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company's stock valued at $2,666,000 after buying an additional 141 shares in the last quarter. GAMMA Investing LLC raised its position in shares of IDEX by 49.0% in the 1st quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company's stock valued at $166,000 after buying an additional 301 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock valued at $87,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Trading Down 2.1%

Shares of NYSE:IEX traded down $3.82 during trading on Friday, reaching $181.61. The stock had a trading volume of 646,834 shares, compared to its average volume of 603,865. The firm's fifty day moving average is $181.41 and its 200 day moving average is $188.36. 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 Corporation has a 52 week low of $153.36 and a 52 week high of $238.22. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 28.78, a P/E/G ratio of 1.88 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) 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 the consensus estimate of $807.25 million. During the same quarter in the previous year, the company earned $1.88 EPS. IDEX's quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts forecast that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The business 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 dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.56%. IDEX's payout ratio is presently 45.01%.

Insiders Place Their Bets

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction on Thursday, June 5th. The shares were 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 in the company, valued at approximately $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho set a $185.00 target price on shares of IDEX in a research report on Friday, May 16th. Royal Bank Of Canada lifted their price target on shares of IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Stifel Nicolaus lifted their price target on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Robert W. Baird set a $215.00 price target on shares of IDEX in a report on Friday, May 2nd. Finally, Citigroup decreased their price target on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, IDEX presently has a consensus rating of "Moderate Buy" and an average price target 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.