Fenimore Asset Management Inc. Lowers Stake in IDEX Corp. (IEX)
Fenimore Asset Management Inc. lowered its stake in IDEX Corp. (NYSE:IEX) by 0.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 859,736 shares of the company’s stock after selling 190 shares during the period. IDEX Corp. makes up 3.9% of Fenimore Asset Management Inc.’s investment portfolio, making the stock its 3rd largest position. Fenimore Asset Management Inc. owned 1.13% of IDEX Corp. worth $80,445,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of IEX. Wellington Management Group LLP increased its stake in shares of IDEX Corp. by 12.7% in the first quarter. Wellington Management Group LLP now owns 2,571,528 shares of the company’s stock valued at $213,127,000 after buying an additional 289,735 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of IDEX Corp. by 58.6% in the first quarter. Goldman Sachs Group Inc. now owns 589,569 shares of the company’s stock valued at $48,863,000 after buying an additional 217,791 shares during the period. Champlain Investment Partners LLC increased its stake in shares of IDEX Corp. by 74.5% in the second quarter. Champlain Investment Partners LLC now owns 499,115 shares of the company’s stock valued at $40,977,000 after buying an additional 213,090 shares during the period. Vanguard Group Inc. increased its stake in shares of IDEX Corp. by 3.6% in the second quarter. Vanguard Group Inc. now owns 5,496,210 shares of the company’s stock valued at $451,239,000 after buying an additional 188,937 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of IDEX Corp. by 8.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,373,177 shares of the company’s stock valued at $196,689,000 after buying an additional 179,710 shares during the period. Institutional investors own 97.53% of the company’s stock.
Shares of IDEX Corp. (NYSE:IEX) traded up 0.42% during mid-day trading on Wednesday, hitting $87.77. The company had a trading volume of 172,388 shares. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 23.27 and a beta of 1.16. The stock’s 50-day moving average is $92.36 and its 200-day moving average is $86.85. IDEX Corp. has a 52-week low of $67.20 and a 52-week high of $95.33.
IDEX Corp. (NYSE:IEX) last issued its earnings results on Monday, July 18th. The company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.06. IDEX Corp. had a return on equity of 19.49% and a net margin of 14.16%. The firm had revenue of $549.70 million for the quarter. During the same quarter in the previous year, the business posted $0.89 EPS. Equities analysts forecast that IDEX Corp. will post $3.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, October 13th. IDEX Corp.’s dividend payout ratio (DPR) is presently 35.98%.
IEX has been the topic of several recent research reports. Zacks Investment Research downgraded IDEX Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Janney Montgomery Scott started coverage on IDEX Corp. in a research report on Tuesday, June 21st. They set a “neutral” rating and a $87.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of IDEX Corp. in a research report on Monday, June 27th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of IDEX Corp. in a research report on Tuesday, July 19th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $85.86.
In other IDEX Corp. news, Chairman Andrew K. Silvernail sold 6,575 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $91.34, for a total value of $600,560.50. Following the transaction, the chairman now directly owns 88,418 shares of the company’s stock, valued at $8,076,100.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory F. Milzcik sold 4,830 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $90.00, for a total value of $434,700.00. Following the completion of the transaction, the director now directly owns 5,375 shares in the company, valued at $483,750. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
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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