Y Intercept Hong Kong Ltd Buys 3,565 Shares of IDEX Corporation (NYSE:IEX)

Y Intercept Hong Kong Ltd increased its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 34.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,824 shares of the industrial products company's stock after acquiring an additional 3,565 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in IDEX were worth $2,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Banque de Luxembourg S.A. bought a new stake in IDEX in the fourth quarter worth $27,000. 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 worth $26,000 after purchasing an additional 64 shares during the last quarter. UMB Bank n.a. raised its stake in shares of IDEX by 63.5% in 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 purchased a new position in shares of IDEX in the fourth quarter worth $49,000. Finally, Orion Capital Management LLC purchased a new stake in IDEX during the fourth quarter valued at $86,000. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IEX. Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Mizuho set a $185.00 price objective on IDEX in a research report on Friday, May 16th. Citigroup upped their price objective on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Royal Bank Of Canada upped their price objective on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Stifel Nicolaus upped their price objective on IDEX from $208.00 to $238.00 and gave the company a "buy" rating in a research report on Monday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and a consensus price target of $218.13.

IDEX Stock Performance

NYSE IEX opened at $184.60 on Wednesday. The stock has a 50-day simple moving average of $181.37 and a two-hundred day simple moving average of $187.07. The firm has a market capitalization of $13.95 billion, a P/E ratio of 29.25, a PEG ratio of 1.83 and a beta of 1.04. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The firm had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. During the same quarter in the previous year, the business earned $1.88 EPS. IDEX's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, July 11th. IDEX's dividend payout ratio is currently 45.01%.

Insider Buying and Selling at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer directly owned 5,035 shares in the company, valued at $910,781.15. The trade was a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

IDEX Company 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.

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