IDEX Corporation (IEX) Position Maintained by Catalyst Capital Advisors LLC
Catalyst Capital Advisors LLC continued to hold its stake in IDEX Corporation (NYSE:IEX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,000 shares of the industrial products company’s stock at the end of the first quarter. Catalyst Capital Advisors LLC owned approximately 0.11% of IDEX Corporation worth $7,948,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Creative Planning boosted its stake in shares of IDEX Corporation by 4.3% in the first quarter. Creative Planning now owns 1,422 shares of the industrial products company’s stock worth $133,000 after buying an additional 59 shares in the last quarter. US Bancorp DE boosted its stake in shares of IDEX Corporation by 7.1% in the third quarter. US Bancorp DE now owns 1,864 shares of the industrial products company’s stock worth $174,000 after buying an additional 123 shares in the last quarter. Diversified Trust Co bought a new stake in shares of IDEX Corporation during the first quarter worth $207,000. Zacks Investment Management bought a new stake in shares of IDEX Corporation during the third quarter worth $210,000. Finally, Tyers Asset Management LLC bought a new stake in shares of IDEX Corporation during the fourth quarter worth $225,000. Institutional investors and hedge funds own 99.03% of the company’s stock.
Shares of IDEX Corporation (NYSE:IEX) opened at 113.20 on Monday. The company has a market capitalization of $8.64 billion, a PE ratio of 31.18 and a beta of 1.15. The firm has a 50-day moving average of $107.51 and a 200 day moving average of $96.54. IDEX Corporation has a 12 month low of $77.93 and a 12 month high of $113.52.
IDEX Corporation (NYSE:IEX) last released its earnings results on Wednesday, April 19th. The industrial products company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. IDEX Corporation had a return on equity of 19.19% and a net margin of 12.89%. The firm had revenue of $553.60 million for the quarter, compared to analyst estimates of $533.14 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities research analysts expect that IDEX Corporation will post $4.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Monday, May 15th were paid a $0.37 dividend. This is a positive change from IDEX Corporation’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.48 annualized dividend and a yield of 1.31%. IDEX Corporation’s dividend payout ratio is presently 40.66%.
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A number of brokerages recently weighed in on IEX. Zacks Investment Research upgraded shares of IDEX Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, April 20th. Stifel Nicolaus reiterated a “hold” rating and issued a $100.00 price target on shares of IDEX Corporation in a research report on Friday, May 26th. Robert W. Baird reiterated a “buy” rating and issued a $104.00 price target on shares of IDEX Corporation in a research report on Friday, April 21st. BMO Capital Markets reiterated a “hold” rating and issued a $104.00 price target on shares of IDEX Corporation in a research report on Friday, April 21st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $79.00 price target on shares of IDEX Corporation in a research report on Wednesday, April 12th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $100.71.
In other IDEX Corporation news, SVP Jeffrey D. Bucklew sold 2,000 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the senior vice president now owns 2,726 shares of the company’s stock, valued at $281,023.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael J. Yates sold 10,533 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $104.30, for a total value of $1,098,591.90. Following the completion of the transaction, the vice president now directly owns 34,418 shares in the company, valued at approximately $3,589,797.40. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
IDEX Corporation 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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