Emerald Acquisition Ltd. Purchases New Stake in IDEX Corp. (IEX)
Emerald Acquisition Ltd. purchased a new stake in shares of IDEX Corp. (NYSE:IEX) during the second quarter, Holdings Channel reports. The fund purchased 50,886 shares of the company’s stock, valued at approximately $4,178,000. Emerald Acquisition Ltd. owned 0.07% of IDEX Corp. at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in IEX. Kleinwort Benson Investors Dublin Ltd bought a new stake in IDEX Corp. during the second quarter valued at approximately $9,542,000. KBC Group NV boosted its stake in IDEX Corp. by 10.9% in the second quarter. KBC Group NV now owns 43,892 shares of the company’s stock valued at $3,604,000 after buying an additional 4,313 shares during the period. Mutual of America Capital Management LLC boosted its stake in IDEX Corp. by 6.6% in the second quarter. Mutual of America Capital Management LLC now owns 55,865 shares of the company’s stock valued at $4,587,000 after buying an additional 3,464 shares during the period. State Treasurer State of Michigan boosted its stake in IDEX Corp. by 0.7% in the second quarter. State Treasurer State of Michigan now owns 30,500 shares of the company’s stock valued at $2,504,000 after buying an additional 200 shares during the period. Finally, Suntrust Banks Inc. boosted its stake in IDEX Corp. by 12.1% in the second quarter. Suntrust Banks Inc. now owns 33,897 shares of the company’s stock valued at $2,782,000 after buying an additional 3,664 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.
IDEX Corp. (NYSE:IEX) traded up 0.85% during midday trading on Monday, reaching $90.97. 305,802 shares of the company’s stock traded hands. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 24.12 and a beta of 1.26. IDEX Corp. has a 1-year low of $67.20 and a 1-year high of $95.33. The stock’s 50 day moving average price is $92.10 and its 200 day moving average price is $84.68.
IDEX Corp. (NYSE:IEX) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The company had revenue of $549.70 million for the quarter. IDEX Corp. had a net margin of 14.16% and a return on equity of 19.49%. During the same period last year, the firm posted $0.89 earnings per share. Equities research analysts anticipate that IDEX Corp. will post $3.74 EPS for the current year.
Several brokerages recently weighed in on IEX. Zacks Investment Research lowered shares of IDEX Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Jefferies Group restated a “hold” rating on shares of IDEX Corp. in a report on Tuesday, July 19th. Janney Montgomery Scott upgraded shares of IDEX Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $87.00 to $96.00 in a report on Tuesday, July 19th. Royal Bank Of Canada restated a “buy” rating on shares of IDEX Corp. in a report on Tuesday, July 12th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of IDEX Corp. in a report on Monday, June 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $85.86.
In related news, Director Gregory F. Milzcik sold 4,830 shares of IDEX Corp. stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $90.00, for a total transaction of $434,700.00. Following the sale, the director now directly owns 5,375 shares of the company’s stock, valued at approximately $483,750. 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 6,575 shares of IDEX Corp. stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $91.34, for a total transaction of $600,560.50. Following the sale, the chairman now directly owns 88,418 shares in the company, valued at $8,076,100.12. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
IDEX Corp. Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP).
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