Mirae Asset Global Investments Co. Ltd. Has $1.98 Million Position in IDEX Corporation (NYSE:IEX)

Mirae Asset Global Investments Co. Ltd. grew its holdings in IDEX Corporation (NYSE:IEX) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,930 shares of the industrial products company’s stock after purchasing an additional 905 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in IDEX were worth $1,977,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in shares of IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 64 shares during the last quarter. Banque de Luxembourg S.A. acquired a new stake in shares of IDEX in the fourth quarter valued at about $27,000. UMB Bank n.a. grew its position in shares of IDEX by 63.5% in the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 87 shares during the last quarter. Quarry LP bought a new stake in shares of IDEX in the fourth quarter valued at about $49,000. Finally, Versant Capital Management Inc lifted its stake in shares of IDEX by 970.7% in the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company’s stock valued at $79,000 after buying an additional 398 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Mizuho set a $185.00 target price on shares of IDEX in a research note on Friday, May 16th. Royal Bank Of Canada increased their target price on shares of IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Robert W. Baird set a $215.00 price target on shares of IDEX in a research note on Friday, May 2nd. Finally, Citigroup cut their price target on shares of IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and an average target price of $212.50.

Insider Buying and Selling

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the transaction, the chief financial officer owned 5,035 shares of the company’s stock, valued at approximately $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

IDEX Stock Down 0.5%

Shares of IEX opened at $181.25 on Friday. The stock has a market cap of $13.69 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 1.85 and a beta of 1.04. The company has a quick ratio of 1.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.47. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The company has a 50-day moving average price of $180.52 and a two-hundred day moving average price of $189.64.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $807.25 million. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 earnings per share. Equities analysts predict that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, July 11th. IDEX’s dividend payout ratio is currently 45.01%.

IDEX Company 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.