Mitsubishi UFJ Asset Management Co. Ltd. Has $24.04 Million Holdings in IDEX Corporation (NYSE:IEX)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in IDEX Corporation by 14.9% in the 1st quarter, acquiring a total of 132,823 shares valued at approximately $24 million.
• Several other institutional investors also adjusted their holdings in IDEX, with MassMutual Private Wealth & Trust FSB significantly raising its stake by 81.0% during the same period.
• IDEX recently declared a quarterly dividend of $0.71 per share, reflecting an annualized payout of $2.84 and a dividend yield of 1.8%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of IDEX Corporation (NYSE:IEX - Free Report) by 14.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,823 shares of the industrial products company's stock after buying an additional 17,202 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of IDEX worth $24,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. raised its stake in IDEX by 1.0% during the first quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock worth $1,084,000 after acquiring an additional 60 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in IDEX by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock worth $1,031,000 after acquiring an additional 61 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in IDEX by 0.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock worth $1,508,000 after acquiring an additional 61 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after purchasing an additional 64 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of IDEX by 3.2% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,127 shares of the industrial products company's stock worth $445,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

Insider Buying and Selling

In related news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

IDEX Trading Down 1.4%

IEX stock traded down $2.35 during trading on Friday, hitting $164.84. The company had a trading volume of 137,309 shares, compared to its average volume of 673,005. The business has a 50-day moving average of $176.01 and a 200-day moving average of $181.66. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22. The stock has a market cap of $12.41 billion, a PE ratio of 26.64, a PEG ratio of 1.79 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.00 by $0.07. IDEX had a return on equity of 15.16% and a net margin of 14.05%. The business had revenue of $865.40 million for the quarter, compared to analysts' expectations of $858.59 million. During the same period in the prior year, the business posted $2.06 earnings per share. The firm's revenue was up 7.2% on a year-over-year basis. Research analysts predict that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.71 dividend. The ex-dividend date was Friday, July 11th. This represents a $2.84 annualized dividend and a yield of 1.7%. IDEX's dividend payout ratio is presently 45.88%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. DA Davidson set a $180.00 price target on IDEX and gave the stock a "neutral" rating in a report on Monday, August 4th. Royal Bank Of Canada reduced their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Robert W. Baird set a $215.00 price target on IDEX in a report on Friday, May 2nd. Citigroup boosted their price target on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Stifel Nicolaus reduced their price target on IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, IDEX has a consensus 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.