Hancock Whitney Corp raised its holdings in IDEX Co. (NYSE:IEX) by 14.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,822 shares of the industrial products company’s stock after purchasing an additional 10,616 shares during the period. Hancock Whitney Corp owned 0.11% of IDEX worth $12,719,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. lifted its position in IDEX by 64.9% during the first quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 72 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of IDEX during the fourth quarter worth approximately $25,000. Parallel Advisors LLC raised its stake in shares of IDEX by 55.7% during the first quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 73 shares in the last quarter. Lindbrook Capital LLC purchased a new position in shares of IDEX during the fourth quarter worth approximately $32,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of IDEX during the fourth quarter worth approximately $33,000. Institutional investors own 94.61% of the company’s stock.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of IDEX from a “buy” rating to a “hold” rating and set a $181.00 price target on the stock. in a research note on Monday. DA Davidson reissued a “neutral” rating on shares of IDEX in a research note on Friday, April 26th. Stifel Nicolaus lifted their price target on shares of IDEX from $129.00 to $153.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer reissued a “hold” rating on shares of IDEX in a research note on Wednesday, May 8th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $154.00.
IDEX stock traded up $1.23 during mid-day trading on Monday, reaching $173.37. 413,800 shares of the company traded hands, compared to its average volume of 336,860. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.33 and a quick ratio of 2.45. The stock’s 50 day moving average price is $157.69. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 2.96 and a beta of 1.25. IDEX Co. has a 52-week low of $117.72 and a 52-week high of $173.84.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.07. IDEX had a net margin of 16.92% and a return on equity of 21.22%. The business had revenue of $622.20 million for the quarter, compared to the consensus estimate of $634.38 million. During the same period in the previous year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that IDEX Co. will post 5.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Monday, July 15th. IDEX’s dividend payout ratio (DPR) is presently 36.97%.
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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