Sequoia Financial Advisors LLC purchased a new position in IDEX Corporation (NYSE:IEX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,569 shares of the industrial products company's stock, valued at approximately $275,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in IDEX by 257.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company's stock worth $25,000 after acquiring an additional 103 shares in the last quarter. American National Bank & Trust bought a new position in IDEX in the second quarter worth approximately $25,000. Steph & Co. bought a new position in IDEX in the second quarter worth approximately $42,000. SVB Wealth LLC bought a new position in IDEX in the first quarter worth approximately $56,000. Finally, Federated Hermes Inc. boosted its holdings in IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock worth $60,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 97.96% of the company's stock.
IDEX Price Performance
Shares of NYSE IEX opened at $166.27 on Thursday. The stock has a fifty day simple moving average of $163.82 and a two-hundred day simple moving average of $172.07. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46.
IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The business had revenue of $712.00 million during the quarter. Analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current year.
IDEX declared that its board has approved a share buyback program on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.
IDEX Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be 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 of this dividend is Friday, October 10th. IDEX's dividend payout ratio is 45.88%.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Oppenheimer set a $210.00 price target on IDEX in a report on Tuesday, October 7th. Royal Bank Of Canada lowered their price objective on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Weiss Ratings reissued a "hold (c-)" rating on shares of IDEX in a research note on Wednesday, October 8th. Stifel Nicolaus lowered their price objective on IDEX from $204.00 to $191.00 and set a "buy" rating for the company in a research note on Monday. Finally, DA Davidson set a $180.00 price objective on IDEX and gave the stock a "neutral" rating in a research note on Monday, August 4th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $199.57.
Check Out Our Latest Report on IDEX
IDEX Company Profile
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Free Report)
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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