OneAscent Investment Solutions LLC Invests $320,000 in IDEX Corporation (NYSE:IEX)

Key Points

• OneAscent Investment Solutions LLC has acquired a new stake in IDEX Corporation, purchasing 1,769 shares valued at around $320,000 during the first quarter.
• IDEX reported a quarterly earnings per share (EPS) of $2.07, exceeding analysts' expectations and reflecting a revenue increase of 7.2% year-over-year.
• The company recently declared a quarterly dividend of $0.71, which represents an annual yield of 1.7%, with a payout ratio of 45.88%.

OneAscent Investment Solutions LLC bought a new position in shares of IDEX Corporation (NYSE:IEX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,769 shares of the industrial products company's stock, valued at approximately $320,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of 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 acquiring an additional 64 shares during the last quarter. Banque de Luxembourg S.A. acquired a new position in IDEX in the fourth quarter worth $27,000. UMB Bank n.a. grew its holdings in shares of IDEX by 63.5% during the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock worth $41,000 after purchasing an additional 87 shares during the last quarter. Quarry LP acquired a new stake in shares of IDEX in the fourth quarter valued at $49,000. Finally, Federated Hermes Inc. raised its holdings in shares of IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock valued at $60,000 after buying an additional 100 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction on Thursday, June 5th. The shares were 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 directly owned 5,035 shares of the company's stock, valued at approximately $910,781.15. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company's stock.

IDEX Trading Down 1.4%

IDEX stock traded down $2.40 during midday trading on Friday, hitting $164.79. 579,200 shares of the stock were exchanged, compared to its average volume of 866,780. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $238.22. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.41 billion, a PE ratio of 26.62, a P/E/G ratio of 1.74 and a beta of 1.04. The company has a fifty day simple moving average of $175.64 and a two-hundred day simple moving average of $181.01.

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

IDEX Dividend Announcement

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

Analyst Upgrades and Downgrades

IEX has been the subject of several research reports. DA Davidson set a $180.00 price objective on shares of IDEX and gave the company a "neutral" rating in a research report on Monday, August 4th. Oppenheimer lowered 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. Mizuho set a $185.00 price objective on IDEX in a report on Friday, May 16th. Stifel Nicolaus lowered their target price on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Finally, Citigroup upped their price target on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, IDEX presently has a consensus rating of "Moderate Buy" and a consensus target price 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.