Amalgamated Bank Sells 422 Shares of IDEX Co. (NYSE:IEX)

Amalgamated Bank cut its stake in shares of IDEX Co. (NYSE:IEX) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,354 shares of the industrial products company’s stock after selling 422 shares during the quarter. Amalgamated Bank’s holdings in IDEX were worth $3,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riverview Trust Co purchased a new position in IDEX in the first quarter worth $35,000. Quarry LP bought a new position in shares of IDEX during the 4th quarter valued at about $36,000. EdgeRock Capital LLC purchased a new position in shares of IDEX during the 2nd quarter valued at about $41,000. Whittier Trust Co. lifted its position in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IEX shares. Royal Bank of Canada lowered their price objective on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Robert W. Baird decreased their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, DA Davidson lowered their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.50.

IDEX Trading Up 0.6 %

IEX stock opened at $210.05 on Tuesday. The firm has a fifty day moving average price of $201.09 and a 200 day moving average price of $213.28. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The firm has a market cap of $15.90 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. Sell-side analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, October 11th. IDEX’s payout ratio is 36.32%.

IDEX Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.