IDEX Corporation $IEX Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in IDEX Corporation (NYSE:IEX) by 70.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,636 shares of the industrial products company’s stock after acquiring an additional 6,443 shares during the quarter. SG Americas Securities LLC’s holdings in IDEX were worth $2,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in IDEX by 19.1% during the first quarter. Signaturefd LLC now owns 573 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 92 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in shares of IDEX by 8.3% in the first quarter. Apollon Wealth Management LLC now owns 1,235 shares of the industrial products company’s stock valued at $224,000 after buying an additional 95 shares in the last quarter. South Dakota Investment Council acquired a new stake in shares of IDEX during the 1st quarter valued at $353,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of IDEX by 2.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,817 shares of the industrial products company’s stock valued at $1,053,000 after acquiring an additional 162 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of IDEX by 5.5% during the 1st quarter. Allianz Asset Management GmbH now owns 428,908 shares of the industrial products company’s stock worth $77,619,000 after acquiring an additional 22,271 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of IEX opened at $161.67 on Wednesday. The business’s 50-day moving average is $165.07 and its 200-day moving average is $171.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.93 and a quick ratio of 2.13. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 1.83 and a beta of 1.04. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $237.38.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The business had revenue of $712.00 million during the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. Equities research analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX declared that its Board of Directors has approved a share repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.8%. IDEX’s dividend payout ratio is 44.94%.

Analysts Set New Price Targets

Several brokerages have recently commented on IEX. DA Davidson set a $180.00 target price on IDEX and gave the company a “neutral” rating in a report on Monday, August 4th. Oppenheimer set a $210.00 price objective on IDEX in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Royal Bank Of Canada cut their price target on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Finally, Stifel Nicolaus reduced their price target on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.86.

IDEX Company 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.