Nuance Investments LLC Trims Stock Position in IDEX Corporation (NYSE:IEX)

Key Points

• Nuance Investments LLC reduced its stake in IDEX Corporation by 12.8%, owning 95,280 shares, which amount to approximately 1.1% of their portfolio.
• IDEX Corporation reported an earnings per share (EPS) of $2.07, exceeding analysts' expectations, and had a revenue growth of 7.2% compared to the previous year.
• The company declared a quarterly dividend of $0.71 per share, representing an annualized yield of 1.8% and a dividend payout ratio of 45.88%.

Nuance Investments LLC lessened its position in shares of IDEX Corporation (NYSE:IEX - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,280 shares of the industrial products company's stock after selling 14,013 shares during the quarter. IDEX comprises approximately 1.1% of Nuance Investments LLC's portfolio, making the stock its 22nd largest position. Nuance Investments LLC owned about 0.13% of IDEX worth $17,243,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IEX. Dimensional Fund Advisors LP grew its stake in shares of IDEX by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company's stock worth $134,096,000 after acquiring an additional 73,540 shares in the last quarter. Snyder Capital Management L P grew its stake in shares of IDEX by 12.2% during the fourth quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company's stock worth $100,500,000 after purchasing an additional 52,259 shares in the last quarter. Amalgamated Bank grew its stake in shares of IDEX by 1.0% during the first quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company's stock worth $2,666,000 after purchasing an additional 141 shares in the last quarter. GAMMA Investing LLC boosted its stake in IDEX by 49.0% in the first quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company's stock valued at $166,000 after acquiring an additional 301 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in IDEX by 0.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock valued at $1,508,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

Insiders Place Their Bets

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction that occurred on 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 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 SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

IDEX Stock Down 0.4%

IEX stock opened at $157.59 on Tuesday. The company's 50 day simple moving average is $176.88 and its 200-day simple moving average is $182.26. The firm has a market capitalization of $11.87 billion, a PE ratio of 25.46, a P/E/G ratio of 1.67 and a beta of 1.04. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13.

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

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a yield of 1.8%. IDEX's dividend payout ratio (DPR) is currently 45.88%.

Analyst Ratings Changes

Several research firms have issued reports on IEX. Stifel Nicolaus decreased their price objective 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. Robert W. Baird set a $215.00 target price on shares of IDEX in a report on Friday, May 2nd. Citigroup increased their price target on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Mizuho set a $185.00 price target on shares of IDEX in a report on Friday, May 16th. Finally, Oppenheimer cut their price target on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, IDEX currently has an average rating of "Moderate Buy" and an average target price of $201.71.

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.

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