Atlanta Capital Management Co. L L C lessened its stake in IDEX Co. (NYSE:IEX) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,925,019 shares of the industrial products company’s stock after selling 89,624 shares during the quarter. IDEX comprises about 2.0% of Atlanta Capital Management Co. L L C’s holdings, making the stock its 11th largest holding. Atlanta Capital Management Co. L L C owned approximately 3.81% of IDEX worth $440,683,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. BlackRock Inc. raised its position in shares of IDEX by 4.5% in the 2nd quarter. BlackRock Inc. now owns 7,916,684 shares of the industrial products company’s stock valued at $1,080,468,000 after purchasing an additional 339,328 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of IDEX by 189.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 132,292 shares of the industrial products company’s stock valued at $18,055,000 after purchasing an additional 86,584 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of IDEX by 135.4% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 144,821 shares of the industrial products company’s stock valued at $21,819,000 after purchasing an additional 83,289 shares in the last quarter. FMR LLC raised its position in shares of IDEX by 6.9% in the 3rd quarter. FMR LLC now owns 1,112,161 shares of the industrial products company’s stock valued at $167,559,000 after purchasing an additional 71,693 shares in the last quarter. Finally, BTIM Corp. acquired a new position in shares of IDEX in the 2nd quarter valued at approximately $9,759,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
In other IDEX news, VP Michael J. Yates sold 1,030 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $155.91, for a total value of $160,587.30. Following the sale, the vice president now directly owns 27,602 shares of the company’s stock, valued at $4,303,427.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by company insiders.
IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.10. The business had revenue of $623.00 million for the quarter, compared to analyst estimates of $613.94 million. IDEX had a return on equity of 20.40% and a net margin of 16.54%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. Sell-side analysts expect that IDEX Co. will post 5.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Monday, October 15th. IDEX’s dividend payout ratio is presently 39.91%.
A number of equities analysts have issued reports on IEX shares. UBS Group set a $142.00 target price on IDEX and gave the company a “hold” rating in a research report on Friday, October 26th. Stifel Nicolaus upped their target price on IDEX from $149.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, October 8th. Robert W. Baird dropped their price target on IDEX from $145.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Zacks Investment Research lowered IDEX from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Finally, Janney Montgomery Scott raised IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a research report on Thursday, October 25th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. IDEX currently has a consensus rating of “Hold” and an average price target of $146.45.
IDEX Company Profile
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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