IDEX Corporation (IEX) Stake Held by Sandhill Capital Partners LLC
Sandhill Capital Partners LLC continued to hold its stake in shares of IDEX Corporation (NYSE:IEX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,157 shares of the industrial products company’s stock at the end of the second quarter. Sandhill Capital Partners LLC’s holdings in IDEX Corporation were worth $809,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in IEX. Strs Ohio bought a new position in IDEX Corporation during the 2nd quarter valued at about $112,000. Acrospire Investment Management LLC lifted its holdings in IDEX Corporation by 1,000.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,100 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 1,000 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in IDEX Corporation during the 2nd quarter valued at about $134,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in IDEX Corporation during the 2nd quarter valued at about $181,000. Finally, Wallington Asset Management LLC bought a new position in IDEX Corporation during the 2nd quarter valued at about $203,000. 98.50% of the stock is owned by hedge funds and other institutional investors.
Shares of IDEX Corporation (NYSE:IEX) traded down 0.56% during trading on Thursday, hitting $122.30. 106,807 shares of the company’s stock were exchanged. IDEX Corporation has a 1-year low of $82.05 and a 1-year high of $124.11. The stock has a market cap of $9.35 billion, a PE ratio of 32.78 and a beta of 1.19. The stock’s 50-day moving average price is $116.81 and its 200-day moving average price is $107.55.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The company had revenue of $573.40 million for the quarter, compared to the consensus estimate of $568.43 million. During the same period last year, the company posted $0.99 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts expect that IDEX Corporation will post $4.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.20%. IDEX Corporation’s payout ratio is currently 39.68%.
IEX has been the subject of several analyst reports. Zacks Investment Research raised shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a report on Tuesday, July 11th. Stifel Nicolaus reissued a “hold” rating and set a $120.00 price target on shares of IDEX Corporation in a report on Sunday, September 3rd. BMO Capital Markets reissued a “hold” rating and set a $110.00 price target on shares of IDEX Corporation in a report on Friday, July 28th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of IDEX Corporation in a report on Thursday, September 21st. Finally, Seaport Global Securities reissued a “neutral” rating on shares of IDEX Corporation in a report on Wednesday, June 21st. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $108.63.
In other news, Chairman Andrew K. Silvernail sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $5,750,000.00. Following the sale, the chairman now directly owns 142,114 shares in the company, valued at approximately $16,343,110. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $116.79, for a total transaction of $467,160.00. Following the completion of the sale, the senior vice president now owns 6,726 shares in the company, valued at $785,529.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,000 shares of company stock worth $6,909,200. 1.00% of the stock is currently owned by corporate insiders.
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About IDEX Corporation
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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