Michael J. Yates Sells 5,804 Shares of IDEX Co. (IEX) Stock

IDEX Co. (NYSE:IEX) VP Michael J. Yates sold 5,804 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $154.13, for a total value of $894,570.52. Following the transaction, the vice president now owns 32,376 shares of the company’s stock, valued at approximately $4,990,112.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of IDEX opened at $151.65 on Friday, according to MarketBeat Ratings. The company has a quick ratio of 2.39, a current ratio of 3.21 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.62 and a beta of 1.22. IDEX Co. has a 1 year low of $110.25 and a 1 year high of $154.62.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.09. The business had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.10 million. IDEX had a net margin of 15.94% and a return on equity of 19.71%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. sell-side analysts predict that IDEX Co. will post 5.31 earnings per share for the current fiscal year.



The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Shareholders of record on Monday, July 16th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.13%. The ex-dividend date was Friday, July 13th. IDEX’s payout ratio is currently 39.91%.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered IDEX from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Stifel Nicolaus increased their price target on shares of IDEX from $140.00 to $149.00 and gave the company a “hold” rating in a report on Thursday, July 26th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $170.00 price target (up previously from $165.00) on shares of IDEX in a report on Wednesday, July 25th. BMO Capital Markets reaffirmed a “hold” rating and issued a $150.00 price target on shares of IDEX in a report on Thursday, July 26th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of IDEX in a report on Wednesday, July 25th. Thirteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $147.90.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gofen & Glossberg LLC IL bought a new stake in IDEX in the second quarter worth about $7,194,000. Aperio Group LLC lifted its stake in IDEX by 5.7% in the first quarter. Aperio Group LLC now owns 36,411 shares of the industrial products company’s stock worth $5,189,000 after purchasing an additional 1,970 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in IDEX in the first quarter worth about $16,843,000. Robeco Institutional Asset Management B.V. lifted its stake in IDEX by 1.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 178,497 shares of the industrial products company’s stock worth $25,441,000 after purchasing an additional 3,323 shares during the last quarter. Finally, Gateway Investment Advisers LLC bought a new stake in IDEX in the second quarter worth about $208,000. 95.58% of the stock is owned by institutional investors and hedge funds.

About IDEX

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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Insider Buying and Selling by Quarter for IDEX (NYSE:IEX)

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