IDEX Corporation (NYSE:IEX) Stock Holdings Lowered by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its holdings in IDEX Corporation by 35.0% in the first quarter, now owning 15,600 shares valued at approximately $2.8 million.
• IDEX reported quarterly earnings of $2.07 per share, exceeding analysts' expectations, with revenue up 7.2% year-over-year.
• The company recently announced a quarterly dividend of $0.71 per share, reflecting an annual yield of 1.8% and a payout ratio of 45.88%.

Forsta AP Fonden reduced its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 35.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,600 shares of the industrial products company's stock after selling 8,400 shares during the quarter. Forsta AP Fonden's holdings in IDEX were worth $2,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Alps Advisors Inc. boosted its holdings in shares of IDEX by 1.0% during the 1st quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock worth $1,084,000 after buying an additional 60 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in IDEX by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock valued at $1,031,000 after purchasing an additional 61 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in IDEX by 0.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock valued at $1,508,000 after purchasing an additional 61 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in IDEX by 81.0% during 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. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in IDEX by 3.2% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,127 shares of the industrial products company's stock valued at $445,000 after purchasing an additional 66 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the sale, the chief financial officer owned 5,035 shares of the company's stock, valued at approximately $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

IDEX Trading Down 0.4%

IEX opened at $157.59 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. The firm has a 50 day simple moving average of $176.88 and a 200 day simple moving average of $182.26. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. The business had revenue of $865.40 million during the quarter, compared to the consensus estimate of $858.59 million. IDEX had a net margin of 14.05% and a return on equity of 15.16%. IDEX's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 earnings per share. On average, sell-side analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's dividend payout ratio is presently 45.88%.

Wall Street Analyst Weigh In

Several research firms recently commented on IEX. DA Davidson set a $180.00 target price on shares of IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Oppenheimer cut their target price on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus cut their target price on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Citigroup upped their target price on shares of IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Royal Bank Of Canada dropped their price objective on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $201.71.

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.

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