4,606 Shares in IDEX Corporation (NYSE:IEX) Acquired by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd made a new investment in IDEX Corporation, purchasing 4,606 shares valued at approximately $834,000 during the first quarter.
• IDEX Corporation reported a Q2 EPS of $2.07, surpassing analyst estimates, with revenues reaching $865.40 million, marking a year-over-year increase of 7.2%.
• The company announced a quarterly dividend of $0.71 per share, resulting in an annualized yield of 1.7% and a dividend payout ratio of 45.88%.

S Bank Fund Management Ltd purchased a new position in IDEX Corporation (NYSE:IEX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,606 shares of the industrial products company's stock, valued at approximately $834,000.

Other hedge funds have also recently modified their holdings of the company. Banque de Luxembourg S.A. purchased a new position in shares of IDEX in the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of IDEX by 81.0% in the 1st 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 period. UMB Bank n.a. lifted its position in shares of IDEX by 63.5% in the 1st 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 period. Quarry LP purchased a new stake in shares of IDEX in the 4th quarter worth about $49,000. Finally, Federated Hermes Inc. lifted its position in shares of IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock worth $60,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Price Performance

IDEX stock traded down $2.40 during mid-day trading on Friday, reaching $164.79. 579,200 shares of the company's stock traded hands, compared to its average volume of 866,780. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $238.22. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.76 and a beta of 1.04. 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 50 day moving average of $175.64 and a two-hundred day moving average of $181.27.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, beating 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 business had revenue of $865.40 million for the quarter, compared to analysts' expectations of $858.59 million. During the same period last year, the business earned $2.06 EPS. The company's revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a $0.71 dividend. 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 1.7%. IDEX's dividend payout ratio (DPR) is currently 45.88%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IEX shares. DA Davidson set a $180.00 price target on shares of IDEX and gave the company a "neutral" rating in a research report on Monday, August 4th. Stifel Nicolaus lowered their price target on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada lowered their price target on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Robert W. Baird set a $215.00 target price on shares of IDEX in a report on Friday, May 2nd. Finally, Citigroup lifted their target price on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.71.

Insider Transactions at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of IDEX 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 sale, the chief financial officer owned 5,035 shares of the company's stock, valued at approximately $910,781.15. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company's stock.

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.