Exchange Traded Concepts LLC Purchases 3,185 Shares of IDEX Corporation (NYSE:IEX)

Exchange Traded Concepts LLC raised its stake in IDEX Corporation (NYSE:IEX - Free Report) by 29.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,099 shares of the industrial products company's stock after acquiring an additional 3,185 shares during the quarter. Exchange Traded Concepts LLC's holdings in IDEX were worth $2,551,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, CFO Akhil Mahendra sold 250 shares of the business'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 now owns 5,035 shares in the company, valued at $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 the SEC website. Company insiders own 0.50% of the company's stock.

IDEX Trading Down 0.7%

NYSE IEX traded down $1.16 during mid-day trading on Thursday, reaching $174.83. 888,840 shares of the stock were exchanged, compared to its average volume of 587,418. The stock has a market cap of $13.21 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.79 and a beta of 1.06. 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 Corporation has a one year low of $153.36 and a one year high of $238.22. The stock has a 50 day simple moving average of $178.31 and a 200-day simple moving average of $193.52.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. The firm had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The business's quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $1.88 EPS. On average, analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The firm 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.62%. IDEX's dividend payout ratio (DPR) is presently 45.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IEX. Royal Bank Of Canada lifted their price target on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Stifel Nicolaus upped their price target on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Citigroup cut 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. Mizuho set a $185.00 price objective on IDEX in a report on Friday, May 16th. Finally, DA Davidson cut their target price on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus 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.