M&T Bank Corp Trims Stock Position in IDEX Corporation (NYSE:IEX)

M&T Bank Corp lowered its position in IDEX Corporation (NYSE:IEX - Free Report) by 59.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,134 shares of the industrial products company's stock after selling 13,460 shares during the quarter. M&T Bank Corp's holdings in IDEX were worth $1,653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Impax Asset Management Group plc boosted its position in IDEX by 11.5% during the 1st quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock valued at $363,157,000 after acquiring an additional 207,172 shares in the last quarter. IFM Investors Pty Ltd boosted its position in IDEX by 5.4% during the 1st quarter. IFM Investors Pty Ltd now owns 19,612 shares of the industrial products company's stock valued at $3,549,000 after acquiring an additional 1,004 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in IDEX by 15.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,874 shares of the industrial products company's stock valued at $339,000 after acquiring an additional 254 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in IDEX during the 1st quarter valued at $2,003,000. Finally, WCM Investment Management LLC boosted its position in IDEX by 57.6% during the 1st quarter. WCM Investment Management LLC now owns 1,623 shares of the industrial products company's stock valued at $294,000 after acquiring an additional 593 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

IEX has been the topic of several recent research reports. Mizuho set a $185.00 target price on IDEX in a research report on Friday, May 16th. Stifel Nicolaus increased their target price on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Robert W. Baird set a $215.00 price objective on IDEX in a report on Friday, May 2nd. Citigroup decreased their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Royal Bank Of Canada increased their price objective on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.50.

Insider Transactions at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer owned 5,035 shares in the company, valued at $910,781.15. This trade represents a 4.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by company insiders.

IDEX Stock Performance

IEX stock traded down $3.82 during midday trading on Friday, reaching $181.61. The stock had a trading volume of 646,834 shares, compared to its average volume of 604,776. The stock has a market cap of $13.72 billion, a PE ratio of 28.78, a P/E/G ratio of 1.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79. The firm has a fifty day simple moving average of $181.41 and a two-hundred day simple moving average of $188.20. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.11. The company 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 firm's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. As a group, equities research analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The company 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 is Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a yield of 1.56%. IDEX's dividend payout ratio (DPR) is 45.01%.

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.