Centerpoint Advisors LLC Trims Stock Holdings in IDEX Co. (NYSE:IEX)
Centerpoint Advisors LLC trimmed its position in IDEX Co. (NYSE:IEX) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,999 shares of the industrial products company’s stock after selling 136 shares during the period. Centerpoint Advisors LLC’s holdings in IDEX were worth $344,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Squar Milner Financial Services LLC grew its stake in IDEX by 376.5% in the third quarter. Squar Milner Financial Services LLC now owns 162 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 128 shares during the period. Allred Capital Management LLC purchased a new stake in shares of IDEX in the fourth quarter worth $31,000. Cerebellum GP LLC purchased a new stake in shares of IDEX in the third quarter worth $36,000. Global Retirement Partners LLC purchased a new stake in shares of IDEX in the third quarter worth $42,000. Finally, River & Mercantile Asset Management LLP purchased a new stake in shares of IDEX in the second quarter worth $45,000. 97.39% of the stock is currently owned by institutional investors.
In other IDEX news, CAO Michael J. Yates sold 14,871 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $162.76, for a total value of $2,420,403.96. Following the transaction, the chief accounting officer now owns 6,197 shares of the company’s stock, valued at $1,008,623.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ernest J. Mrozek sold 6,650 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $160.24, for a total value of $1,065,596.00. Following the completion of the transaction, the director now directly owns 16,255 shares in the company, valued at approximately $2,604,701.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,543 shares of company stock worth $8,833,294. Corporate insiders own 1.20% of the company’s stock.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.06. The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $641.66 million. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. Sell-side analysts predict that IDEX Co. will post 5.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Tuesday, January 14th. IDEX’s payout ratio is currently 36.97%.
A number of equities research analysts have recently commented on the company. Royal Bank of Canada reissued a “buy” rating and issued a $180.00 target price on shares of IDEX in a research note on Wednesday, December 18th. ValuEngine cut IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Citigroup assumed coverage on IDEX in a research note on Monday, September 30th. They issued a “neutral” rating and a $175.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $185.00 target price on shares of IDEX in a research note on Wednesday, December 4th. Eight equities research 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 an average target price of $180.43.
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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