Alps Advisors Inc. lowered its stake in IDEX Co. (NYSE:IEX) by 44.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,626 shares of the industrial products company’s stock after selling 2,120 shares during the period. Alps Advisors Inc.’s holdings in IDEX were worth $347,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Gateway Investment Advisers LLC acquired a new stake in IDEX in the second quarter valued at approximately $208,000. Stock Yards Bank & Trust Co. acquired a new stake in IDEX in the second quarter valued at approximately $208,000. HRT Financial LLC acquired a new stake in IDEX in the first quarter valued at approximately $215,000. Brinker Capital Inc. bought a new position in shares of IDEX during the first quarter valued at $231,000. Finally, IBM Retirement Fund bought a new position in shares of IDEX during the first quarter valued at $239,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.
NYSE IEX traded down $0.70 during mid-day trading on Friday, reaching $153.21. 294,700 shares of the stock were exchanged, compared to its average volume of 301,383. IDEX Co. has a one year low of $114.40 and a one year high of $156.00. The company has a market capitalization of $11.78 billion, a PE ratio of 35.73, a P/E/G ratio of 2.47 and a beta of 1.22. The company has a quick ratio of 2.39, a current ratio of 3.21 and a debt-to-equity ratio of 0.43.
Several equities analysts have recently issued reports on IEX shares. Robert W. Baird reaffirmed a “buy” rating and set a $143.00 price target on shares of IDEX in a research note on Friday, July 20th. Wells Fargo & Co reaffirmed a “buy” rating and set a $170.00 price target (up previously from $165.00) on shares of IDEX in a research note on Wednesday, July 25th. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research note on Thursday, May 17th. Stifel Nicolaus raised their price target on shares of IDEX from $140.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $150.00 price target on shares of IDEX in a research note on Thursday, July 26th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $148.10.
In related news, Chairman Andrew K. Silvernail sold 94,045 shares of IDEX stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $145.00, for a total transaction of $13,636,525.00. Following the completion of the transaction, the chairman now owns 149,451 shares of the company’s stock, valued at $21,670,395. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael J. Yates sold 5,804 shares of IDEX stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $154.13, for a total transaction of $894,570.52. Following the transaction, the vice president now directly owns 32,376 shares of the company’s stock, valued at approximately $4,990,112.88. The disclosure for this sale can be found here. Insiders have sold 139,858 shares of company stock valued at $20,573,870 in the last three months. 1.20% of the stock is owned by insiders.
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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