Amalgamated Bank Sells 1,973 Shares of IDEX Co. (NYSE:IEX)

Amalgamated Bank trimmed its position in shares of IDEX Co. (NYSE:IEX) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,186 shares of the industrial products company’s stock after selling 1,973 shares during the period. Amalgamated Bank’s holdings in IDEX were worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of IEX. Planned Solutions Inc. purchased a new stake in IDEX in the 4th quarter worth about $33,000. Headlands Technologies LLC bought a new stake in shares of IDEX in the fourth quarter valued at approximately $52,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of IDEX during the 4th quarter valued at approximately $54,000. Cary Street Partners Investment Advisory LLC boosted its holdings in IDEX by 30.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock worth $71,000 after buying an additional 80 shares during the period. Finally, Desjardins Global Asset Management Inc. raised its holdings in IDEX by 25.6% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 79 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Performance

IDEX stock opened at $222.07 on Thursday. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The firm’s fifty day moving average price is $234.36 and its 200-day moving average price is $217.91. The stock has a market cap of $16.81 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 earnings per share. On average, equities research analysts expect that IDEX Co. will post 8.33 earnings per share for the current fiscal year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from IDEX’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a dividend yield of 1.24%. IDEX’s dividend payout ratio (DPR) is 33.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IEX. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Oppenheimer upped their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Robert W. Baird decreased their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $250.71.

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.