Envestnet Asset Management Inc. Sells 15,880 Shares of IDEX Co. (NYSE:IEX)

Envestnet Asset Management Inc. decreased its stake in shares of IDEX Co. (NYSE:IEX) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 119,261 shares of the industrial products company’s stock after selling 15,880 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of IDEX worth $23,995,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its holdings in shares of IDEX by 20.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,327 shares of the industrial products company’s stock worth $2,279,000 after purchasing an additional 1,894 shares during the period. Thoroughbred Financial Services LLC bought a new position in shares of IDEX during the 2nd quarter worth about $201,000. DekaBank Deutsche Girozentrale increased its holdings in shares of IDEX by 10.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 113,854 shares of the industrial products company’s stock worth $22,752,000 after purchasing an additional 10,707 shares during the period. Nuance Investments LLC increased its holdings in shares of IDEX by 125.5% during the 2nd quarter. Nuance Investments LLC now owns 143,343 shares of the industrial products company’s stock worth $28,841,000 after purchasing an additional 79,771 shares during the period. Finally, Robeco Schweiz AG increased its holdings in shares of IDEX by 29.5% during the 2nd quarter. Robeco Schweiz AG now owns 337,290 shares of the industrial products company’s stock worth $67,863,000 after purchasing an additional 76,867 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of IEX stock opened at $208.73 on Monday. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The firm’s 50 day moving average is $201.03 and its 200-day moving average is $213.48. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.09 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36.

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

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.32%. IDEX’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IEX shares. StockNews.com downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Royal Bank of Canada decreased their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Oppenheimer decreased their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. DA Davidson decreased their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Finally, Stifel Nicolaus reduced their price target on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, IDEX has an average rating of “Moderate Buy” and an average target price of $233.50.

About IDEX

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.