Coldstream Capital Management Inc. Raises Holdings in IDEX Co. (IEX)
Coldstream Capital Management Inc. boosted its holdings in shares of IDEX Co. (NYSE:IEX) by 334.7% during the 1st quarter, Holdings Channel reports. The firm owned 8,408 shares of the industrial products company’s stock after purchasing an additional 6,474 shares during the period. Coldstream Capital Management Inc.’s holdings in IDEX were worth $1,276,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. FMR LLC grew its position in IDEX by 55.9% during the 4th quarter. FMR LLC now owns 1,733,558 shares of the industrial products company’s stock worth $218,879,000 after purchasing an additional 621,397 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of IDEX in the fourth quarter valued at about $1,283,000. OLD National Bancorp IN purchased a new stake in shares of IDEX in the first quarter valued at about $285,000. Texas Permanent School Fund boosted its holdings in shares of IDEX by 2.5% in the first quarter. Texas Permanent School Fund now owns 51,462 shares of the industrial products company’s stock valued at $7,809,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its holdings in shares of IDEX by 129.0% in the first quarter. Dupont Capital Management Corp now owns 119,424 shares of the industrial products company’s stock valued at $18,121,000 after acquiring an additional 67,263 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors.
Shares of NYSE IEX opened at $153.51 on Tuesday. The company has a quick ratio of 2.45, a current ratio of 3.33 and a debt-to-equity ratio of 0.41. IDEX Co. has a 52 week low of $117.72 and a 52 week high of $159.51. The stock has a market capitalization of $11.56 billion, a P/E ratio of 28.38, a P/E/G ratio of 2.63 and a beta of 1.21.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.50 dividend. This is a boost from IDEX’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. IDEX’s dividend payout ratio (DPR) is 36.97%.
Several analysts have recently weighed in on the stock. Berenberg Bank assumed coverage on shares of IDEX in a report on Wednesday, May 15th. They issued a “buy” rating and a $180.00 target price on the stock. Zacks Investment Research downgraded shares of IDEX from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Janney Montgomery Scott downgraded shares of IDEX from a “buy” rating to a “neutral” rating in a report on Friday, March 29th. Oppenheimer reaffirmed a “hold” rating on shares of IDEX in a report on Wednesday, May 8th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of IDEX in a report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $151.80.
In related news, VP Michael J. Yates sold 15,178 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $156.97, for a total value of $2,382,490.66. Following the completion of the sale, the vice president now owns 38,590 shares in the company, valued at $6,057,472.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Daniel J. Salliotte sold 7,125 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $153.06, for a total transaction of $1,090,552.50. Following the completion of the sale, the senior vice president now owns 44,545 shares of the company’s stock, valued at approximately $6,818,057.70. The disclosure for this sale can be found here. Insiders sold 103,423 shares of company stock valued at $16,055,566 in the last quarter. Company insiders own 1.20% of the company’s stock.
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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