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IDEX Corporation (NYSE:IEX) Shares Sold by Tredje AP fonden

IDEX logo with Industrials background

Key Points

  • Tredje AP fonden drastically reduced its holdings in IDEX Corporation by 80.5%, ending the first quarter with only 8,868 shares valued at approximately $1.61 million.
  • Institutional investors collectively own 97.96% of IDEX's stock, indicating strong institutional support despite the recent sell-off by Tredje AP fonden.
  • IDEX's stock is experiencing volatility, with a recent price drop of 11.2% and a consensus target price from analysts set at $218.13 amid varying ratings.
  • Five stocks we like better than IDEX.

Tredje AP fonden decreased its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 80.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,868 shares of the industrial products company's stock after selling 36,574 shares during the quarter. Tredje AP fonden's holdings in IDEX were worth $1,605,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of IDEX by 13.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company's stock worth $134,096,000 after buying an additional 73,540 shares during the period. Snyder Capital Management L P raised its position in 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 acquiring an additional 52,259 shares during the period. Amalgamated Bank grew its position in shares of IDEX by 1.0% in the first quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company's stock valued at $2,666,000 after purchasing an additional 141 shares during the period. GAMMA Investing LLC increased its stake in shares of IDEX by 49.0% during the first quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company's stock worth $166,000 after purchasing an additional 301 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of IDEX by 0.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock worth $1,508,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Trading Down 2.7%

NYSE IEX traded down $4.48 during trading hours on Friday, reaching $159.03. The company had a trading volume of 1,319,862 shares, compared to its average volume of 772,596. The stock has a 50-day moving average of $179.49 and a 200 day moving average of $185.20. The stock has a market capitalization of $11.97 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.72 and a beta of 1.04. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The company has a current ratio of 3.05, a quick ratio of 1.99 and a debt-to-equity ratio of 0.46.

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

IDEX Dividend Announcement

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

Wall Street Analyst Weigh In

IEX has been the subject of a number of research analyst reports. Oppenheimer reduced their target price on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a report on Thursday. Citigroup lifted their target price on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Mizuho set a $185.00 price objective on shares of IDEX in a research note on Friday, May 16th. Finally, Royal Bank Of Canada decreased their target price on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $209.63.

Get Our Latest Analysis on IDEX

Insider Buying and Selling

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction dated Thursday, June 5th. The stock was 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 trade represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

About IDEX

(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.

Further Reading

Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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