Creative Planning Lowers Stock Position in IDEX Co. (NYSE:IEX)
Creative Planning reduced its stake in shares of IDEX Co. (NYSE:IEX) by 21.5% during the second quarter, Holdings Channel reports. The institutional investor owned 3,889 shares of the industrial products company’s stock after selling 1,066 shares during the period. Creative Planning’s holdings in IDEX were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its position in shares of IDEX by 0.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 69,239 shares of the industrial products company’s stock valued at $10,506,000 after purchasing an additional 301 shares during the last quarter. Man Group plc increased its position in shares of IDEX by 884.4% during the 4th quarter. Man Group plc now owns 25,398 shares of the industrial products company’s stock valued at $4,368,000 after purchasing an additional 22,818 shares during the last quarter. Profund Advisors LLC increased its position in shares of IDEX by 10.3% during the 4th quarter. Profund Advisors LLC now owns 1,489 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 139 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of IDEX by 123.8% during the 4th quarter. Macquarie Group Ltd. now owns 5,818 shares of the industrial products company’s stock valued at $1,001,000 after purchasing an additional 3,218 shares during the last quarter. Finally, Norges Bank bought a new position in shares of IDEX during the 4th quarter valued at approximately $124,464,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Andrew K. Silvernail sold 36,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $159.38, for a total transaction of $5,737,680.00. Following the transaction, the chief executive officer now directly owns 240,166 shares of the company’s stock, valued at approximately $38,277,657.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey D. Bucklew sold 500 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.50, for a total value of $77,750.00. Following the transaction, the senior vice president now directly owns 4,934 shares in the company, valued at $767,237. The disclosure for this sale can be found here. Insiders have sold a total of 143,250 shares of company stock worth $23,805,061 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
Shares of IEX stock opened at $164.82 on Friday. IDEX Co. has a twelve month low of $104.56 and a twelve month high of $178.14. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 3.48 and a beta of 1.06. The stock has a fifty day simple moving average of $159.31 and a two-hundred day simple moving average of $155.69. The company has a current ratio of 3.48, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Friday, July 24th. The industrial products company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $561.25 million during the quarter, compared to analysts’ expectations of $526.69 million. IDEX had a return on equity of 18.15% and a net margin of 15.71%. During the same period in the prior year, the business posted $1.50 EPS. Research analysts predict that IDEX Co. will post 4.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, July 15th. IDEX’s dividend payout ratio (DPR) is currently 34.48%.
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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