MetLife Investment Advisors LLC lifted its stake in shares of IDEX Co. (NYSE:IEX) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,217 shares of the industrial products company’s stock after purchasing an additional 455 shares during the quarter. MetLife Investment Advisors LLC owned 0.06% of IDEX worth $6,581,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Fort L.P. bought a new stake in shares of IDEX during the 2nd quarter valued at $118,000. Point72 Hong Kong Ltd purchased a new position in shares of IDEX in the 2nd quarter worth about $153,000. Gateway Investment Advisers LLC purchased a new position in shares of IDEX in the 2nd quarter worth about $208,000. Stock Yards Bank & Trust Co. purchased a new position in shares of IDEX in the 2nd quarter worth about $208,000. Finally, HRT Financial LLC purchased a new position in shares of IDEX in the 1st quarter worth about $215,000. Institutional investors own 95.10% of the company’s stock.
A number of research firms have recently issued reports on IEX. Cowen reiterated a “hold” rating and issued a $130.00 price objective on shares of IDEX in a report on Tuesday, July 24th. Stifel Nicolaus upped their price objective on IDEX from $140.00 to $149.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research cut IDEX from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Wells Fargo & Co reiterated a “buy” rating and issued a $170.00 price objective (up from $165.00) on shares of IDEX in a report on Wednesday, July 25th. Finally, Oppenheimer reiterated a “hold” rating on shares of IDEX in a report on Wednesday, July 25th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $148.20.
IDEX (NYSE:IEX) last released its earnings results on Tuesday, July 24th. The industrial products company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $634.40 million during the quarter, compared to analyst estimates of $623.10 million. IDEX had a return on equity of 19.71% and a net margin of 15.94%. IDEX’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. Equities research analysts forecast that IDEX Co. will post 5.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Monday, October 15th. IDEX’s payout ratio is 39.91%.
In other IDEX news, VP Michael J. Yates sold 5,804 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 32,376 shares of the company’s stock, valued at approximately $4,990,112.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Yates sold 1,030 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $155.91, for a total value of $160,587.30. Following the transaction, the vice president now directly owns 27,602 shares of the company’s stock, valued at approximately $4,303,427.82. The disclosure for this sale can be found here. Insiders have sold a total of 139,858 shares of company stock valued at $20,573,870 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
IDEX Company Profile
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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