IDEX Co. (NYSE:IEX) Director William M. Cook Sells 4,080 Shares

IDEX Co. (NYSE:IEX) Director William M. Cook sold 4,080 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $161.93, for a total value of $660,674.40. Following the sale, the director now directly owns 22,308 shares of the company’s stock, valued at $3,612,334.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

IEX traded up $1.55 during trading on Monday, hitting $165.55. 382,300 shares of the stock were exchanged, compared to its average volume of 478,801. The firm has a 50 day simple moving average of $166.82 and a 200 day simple moving average of $155.57. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 2.78 and a beta of 1.23. IDEX Co. has a 1 year low of $117.72 and a 1 year high of $173.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.53 and a current ratio of 3.36.

IDEX (NYSE:IEX) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01. The company had revenue of $642.10 million for the quarter, compared to the consensus estimate of $655.87 million. IDEX had a return on equity of 21.20% and a net margin of 17.11%. IDEX’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. As a group, equities analysts anticipate that IDEX Co. will post 5.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.00 annualized dividend and a yield of 1.21%. IDEX’s payout ratio is currently 36.97%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IEX. Colony Group LLC acquired a new stake in shares of IDEX in the 2nd quarter worth $1,236,000. Royal Bank of Canada lifted its position in IDEX by 13.2% during the 2nd quarter. Royal Bank of Canada now owns 36,429 shares of the industrial products company’s stock worth $6,271,000 after acquiring an additional 4,234 shares during the period. MAI Capital Management lifted its position in IDEX by 3.9% during the 2nd quarter. MAI Capital Management now owns 5,534 shares of the industrial products company’s stock worth $953,000 after acquiring an additional 210 shares during the period. Nuveen Asset Management LLC lifted its position in IDEX by 358.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 246,582 shares of the industrial products company’s stock worth $42,446,000 after acquiring an additional 192,795 shares during the period. Finally, Andra AP fonden lifted its position in IDEX by 12.4% during the 2nd quarter. Andra AP fonden now owns 26,300 shares of the industrial products company’s stock worth $4,527,000 after acquiring an additional 2,900 shares during the period. Institutional investors own 95.89% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered IDEX from a “buy” rating to a “hold” rating and set a $181.00 price target for the company. in a research note on Monday, July 1st. Oppenheimer reissued a “hold” rating on shares of IDEX in a research note on Wednesday, May 8th. Wells Fargo & Co raised their price target on IDEX from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Berenberg Bank assumed coverage on IDEX in a research note on Wednesday, May 15th. They set a “buy” rating and a $180.00 price target for the company. Finally, Stifel Nicolaus raised their price target on IDEX from $157.00 to $162.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $162.38.

About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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