MetLife Investment Advisors LLC increased its holdings in IDEX Co. (NYSE:IEX) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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’s holdings in IDEX were worth $6,581,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of IEX. Fort L.P. purchased a new position in IDEX in the 2nd quarter worth $118,000. Point72 Hong Kong Ltd purchased a new position in IDEX in the 2nd quarter worth $153,000. Gateway Investment Advisers LLC purchased a new position in IDEX in the 2nd quarter worth $208,000. Stock Yards Bank & Trust Co. purchased a new position in IDEX in the 2nd quarter worth $208,000. Finally, HRT Financial LLC purchased a new position in IDEX in the 1st quarter worth $215,000. Institutional investors own 95.11% of the company’s stock.
A number of equities analysts recently commented on IEX shares. Zacks Investment Research upgraded shares of IDEX from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Monday, August 20th. Royal Bank of Canada reissued a “hold” rating and issued a $144.00 price target on shares of IDEX in a report on Friday, July 13th. Stifel Nicolaus raised their price target on shares of IDEX from $140.00 to $149.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. BMO Capital Markets reissued a “hold” rating and issued a $150.00 price target on shares of IDEX in a report on Thursday, July 26th. Finally, Cowen reissued a “hold” rating and issued a $130.00 price target on shares of IDEX in a report on Tuesday, July 24th. Eleven 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 price target of $148.10.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.10 million. IDEX had a net margin of 15.94% and a return on equity of 19.71%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. research analysts expect that IDEX Co. will post 5.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, October 15th. IDEX’s dividend payout ratio (DPR) is presently 39.91%.
In other news, VP Michael J. Yates sold 1,030 shares of IDEX stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $155.91, for a total transaction of $160,587.30. Following the sale, the vice president now owns 27,602 shares of the company’s stock, valued at approximately $4,303,427.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andrew K. Silvernail sold 94,045 shares of IDEX stock in a transaction dated 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 sale, the chairman now directly owns 149,451 shares in the company, valued at approximately $21,670,395. The disclosure for this sale can be found here. In the last three months, insiders sold 139,858 shares of company stock worth $20,573,870. Insiders own 1.20% of the company’s stock.
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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