Oak Thistle LLC Increases Stock Position in IDEX Corporation (NYSE:IEX)

Oak Thistle LLC boosted its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 200.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,261 shares of the industrial products company's stock after purchasing an additional 2,843 shares during the period. Oak Thistle LLC's holdings in IDEX were worth $771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its position in shares of 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 acquiring an additional 64 shares during the period. Banque de Luxembourg S.A. purchased a new position in IDEX in the 4th quarter worth approximately $27,000. UMB Bank n.a. increased its holdings 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 buying an additional 87 shares during the last quarter. Quarry LP acquired a new stake in shares of IDEX during the 4th quarter worth approximately $49,000. Finally, Versant Capital Management Inc increased its holdings in shares of IDEX by 970.7% during the 1st quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock worth $79,000 after buying an additional 398 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the sale, the chief financial officer owned 5,035 shares of the company's stock, valued at $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. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

IEX has been the subject of several research reports. Robert W. Baird set a $215.00 target price on shares of IDEX in a report on Friday, May 2nd. Citigroup lifted their price objective on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Mizuho set a $185.00 target price on shares of IDEX in a report on Friday, May 16th. Finally, Stifel Nicolaus upped their target price on shares of IDEX from $208.00 to $238.00 and gave the company a "buy" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, IDEX has an average rating of "Moderate Buy" and an average price target of $218.13.

IDEX Price Performance

IEX traded down $0.17 on Monday, hitting $185.52. 76,387 shares of the company were exchanged, compared to its average volume of 639,374. 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 business's fifty day moving average is $180.74 and its 200 day moving average is $186.21. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The firm has a market capitalization of $14.01 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04.

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 for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 14.60% and a return on equity of 15.51%. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $807.25 million. During the same period in the prior year, the business posted $1.88 earnings per share. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's dividend payout ratio (DPR) is presently 45.01%.

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.