Insider Selling: IDEX Co. (NYSE:IEX) Director Sells $660,674.40 in Stock

IDEX Co. (NYSE:IEX) Director William M. Cook sold 4,080 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $161.93, for a total value of $660,674.40. Following the completion of the transaction, the director now owns 22,308 shares of the company’s stock, valued at approximately $3,612,334.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of IEX opened at $165.86 on Thursday. The business’s 50-day moving average is $166.09 and its two-hundred day moving average is $155.98. The company has a market capitalization of $12.44 billion, a P/E ratio of 30.66, a P/E/G ratio of 2.81 and a beta of 1.23. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.53 and a current ratio of 3.36. IDEX Co. has a fifty-two week low of $117.72 and a fifty-two week high of $173.84.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. The company had revenue of $642.10 million for the quarter, compared to the consensus estimate of $655.87 million. IDEX had a return on equity of 21.20% and a net margin of 17.11%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. Analysts forecast that IDEX Co. will post 5.83 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Monday, July 15th. IDEX’s dividend payout ratio is currently 36.97%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Krane Funds Advisors LLC acquired a new stake in IDEX during the 2nd quarter worth about $27,000. Cornerstone Advisors Inc. grew its position in shares of IDEX by 64.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 72 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of IDEX during the 2nd quarter valued at about $33,000. Parallel Advisors LLC grew its position in shares of IDEX by 55.7% during the 1st quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 73 shares during the period. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of IDEX during the 2nd quarter valued at about $44,000. 95.89% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on IEX shares. DA Davidson restated a “neutral” rating on shares of IDEX in a research note on Friday, April 26th. Stifel Nicolaus raised their target price on IDEX from $157.00 to $162.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Zacks Investment Research lowered IDEX from a “buy” rating to a “hold” rating and set a $181.00 target price for the company. in a research note on Monday, July 1st. Oppenheimer restated a “hold” rating on shares of IDEX in a research note on Wednesday, May 8th. Finally, Wells Fargo & Co raised their target price on IDEX from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $162.38.

About IDEX

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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