IDEX Corporation (NYSE:IEX) Stake Raised by Impax Asset Management Group plc

Impax Asset Management Group plc boosted its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,006,724 shares of the industrial products company's stock after purchasing an additional 207,172 shares during the quarter. IDEX makes up 2.2% of Impax Asset Management Group plc's investment portfolio, making the stock its 7th biggest holding. Impax Asset Management Group plc owned approximately 2.66% of IDEX worth $363,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after buying an additional 64 shares during the last quarter. Banque de Luxembourg S.A. acquired a new position in shares of IDEX during the 4th quarter worth about $27,000. UMB Bank n.a. raised its position in shares of IDEX by 63.5% during the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock worth $41,000 after acquiring an additional 87 shares in the last quarter. Quarry LP acquired a new stake in shares of IDEX during the 4th quarter worth about $49,000. Finally, Versant Capital Management Inc boosted its holdings in IDEX by 970.7% in the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock valued at $79,000 after purchasing an additional 398 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Stock Performance

IEX stock traded down $0.91 during trading on Friday, hitting $181.25. The company had a trading volume of 224,051 shares, compared to its average volume of 596,565. The firm has a 50-day moving average price of $180.68 and a 200-day moving average price of $189.36. The company has a quick ratio of 1.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.47. The firm has a market cap of $13.69 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 1.84 and a beta of 1.04. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22.

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 return on equity of 15.51% and a net margin of 14.60%. The business had revenue of $814.30 million for the quarter, compared to analyst estimates of $807.25 million. During the same quarter in the previous year, the company posted $1.88 earnings per share. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts expect that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

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

Insider Activity at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of the business's stock in a transaction dated 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 directly owned 5,035 shares in the company, valued at $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IEX shares. Stifel Nicolaus lifted their price target on shares of IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Citigroup cut their target price on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Robert W. Baird set a $215.00 target price on IDEX in a report on Friday, May 2nd. Royal Bank Of Canada upped their target price on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Mizuho set a $185.00 price target on IDEX in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $212.50.

About IDEX

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.