Impax Asset Management Group plc Sells 1,350 Shares of IDEX Co. (NYSE:IEX)

Impax Asset Management Group plc trimmed its position in IDEX Co. (NYSE:IEX) by 0.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,960,982 shares of the industrial products company’s stock after selling 1,350 shares during the period. IDEX comprises 1.6% of Impax Asset Management Group plc’s investment portfolio, making the stock its 13th biggest position. Impax Asset Management Group plc owned approximately 2.59% of IDEX worth $394,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its position in shares of IDEX by 3.3% during the second quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company’s stock valued at $45,047,000 after acquiring an additional 7,222 shares during the last quarter. UBS Group AG boosted its position in IDEX by 177.3% in the fourth quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock worth $12,431,000 after purchasing an additional 36,606 shares during the last quarter. SG Americas Securities LLC boosted its position in IDEX by 241.3% in the first quarter. SG Americas Securities LLC now owns 37,561 shares of the industrial products company’s stock worth $9,166,000 after purchasing an additional 26,557 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in IDEX by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock valued at $132,164,000 after buying an additional 15,202 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in IDEX by 90.1% during the first quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company’s stock worth $17,077,000 after buying an additional 33,162 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX traded up $2.13 during trading hours on Friday, hitting $198.90. The company’s stock had a trading volume of 4,876 shares, compared to its average volume of 442,079. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 2.18 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The business has a 50 day simple moving average of $200.20 and a two-hundred day simple moving average of $216.35. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same period last year, the business earned $2.18 earnings per share. IDEX’s revenue was down 4.6% compared to the same quarter last year. On average, equities analysts expect that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a $0.69 dividend. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.39%. IDEX’s dividend payout ratio (DPR) is currently 36.32%.

Wall Street Analyst Weigh In

IEX has been the subject of a number of research analyst reports. Oppenheimer decreased their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Robert W. Baird decreased their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada decreased their price objective on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Cowen decreased their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $233.50.

IDEX Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.