Flossbach Von Storch SE Makes New $49.82 Million Investment in IDEX Corporation (NYSE:IEX)

Flossbach Von Storch SE bought a new position in shares of IDEX Corporation (NYSE:IEX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 275,267 shares of the industrial products company's stock, valued at approximately $49,815,000. Flossbach Von Storch SE owned approximately 0.36% of IDEX at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its position in shares of IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock worth $85,000 after buying an additional 106 shares in the last quarter. Assetmark Inc. raised its position in shares of IDEX by 129.1% in the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock worth $87,000 after buying an additional 235 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of IDEX in the fourth quarter worth $10,212,000. Raymond James Financial Inc. purchased a new stake in shares of IDEX in the fourth quarter worth $35,375,000. Finally, PNC Financial Services Group Inc. raised its position in shares of IDEX by 35.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 29,438 shares of the industrial products company's stock worth $6,161,000 after buying an additional 7,761 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Trading Down 2.1%

Shares of NYSE:IEX traded down $3.82 on Friday, reaching $181.61. 646,834 shares of the company traded hands, compared to its average volume of 603,884. The business's 50-day simple moving average is $181.41 and its 200 day simple moving average is $188.57. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $238.22. The stock has a market capitalization of $13.72 billion, a P/E ratio of 28.78, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04. The company has a current ratio of 2.79, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data 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 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 earnings per share. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts anticipate 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 paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $2.84 annualized dividend and a dividend yield of 1.56%. IDEX's payout ratio is presently 45.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada increased their price objective on IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Robert W. Baird set a $215.00 target price on IDEX in a research note on Friday, May 2nd. Mizuho set a $185.00 target price on IDEX in a research note on Friday, May 16th. Finally, Stifel Nicolaus increased their target price on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, IDEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.50.

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 value of $45,222.50. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by 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.