Amalgamated Bank Purchases 3,301 Shares of IDEX Corporation (IEX)
Amalgamated Bank increased its position in IDEX Corporation (NYSE:IEX) by 27.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,518 shares of the industrial products company’s stock after purchasing an additional 3,301 shares during the period. Amalgamated Bank’s holdings in IDEX Corporation were worth $1,754,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in IDEX Corporation by 8.8% during the 2nd quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock valued at $790,326,000 after acquiring an additional 568,369 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of IDEX Corporation during the 2nd quarter valued at $236,000. TIAA CREF Investment Management LLC increased its position in shares of IDEX Corporation by 77.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 213,542 shares of the industrial products company’s stock valued at $24,132,000 after purchasing an additional 93,431 shares during the last quarter. Teachers Advisors LLC increased its position in shares of IDEX Corporation by 5.7% during the 2nd quarter. Teachers Advisors LLC now owns 79,392 shares of the industrial products company’s stock valued at $8,972,000 after purchasing an additional 4,274 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its position in shares of IDEX Corporation by 52.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 997 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.
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IDEX Corporation (NYSE IEX) opened at 123.35 on Wednesday. The firm’s 50-day moving average price is $116.81 and its 200-day moving average price is $107.55. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 33.06 and a beta of 1.19. IDEX Corporation has a 12-month low of $82.05 and a 12-month high of $123.94.
IDEX Corporation (NYSE:IEX) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $573.40 million during the quarter, compared to analysts’ expectations of $568.43 million. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, equities analysts predict that IDEX Corporation will post $4.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, October 13th. IDEX Corporation’s payout ratio is 39.68%.
In related news, Chairman Andrew K. Silvernail sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the completion of the sale, the chairman now owns 142,114 shares in the company, valued at $16,343,110. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $116.79, for a total value of $467,160.00. Following the sale, the senior vice president now owns 6,726 shares of the company’s stock, valued at approximately $785,529.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,000 shares of company stock valued at $6,909,200. Company insiders own 1.00% of the company’s stock.
Several equities research analysts have recently issued reports on IEX shares. Zacks Investment Research lowered IDEX Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $120.00 target price on shares of IDEX Corporation in a research report on Sunday, September 3rd. Finally, BidaskClub raised IDEX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $108.25.
IDEX Corporation 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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