Daiwa Securities Group Inc. Invests $254,000 in IDEX Corporation (IEX)

Daiwa Securities Group Inc. bought a new position in IDEX Corporation (NYSE:IEX) during the second quarter, Holdings Channel reports. The firm bought 2,250 shares of the industrial products company’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its position in IDEX Corporation by 129.5% in the first quarter. Asset Management One Co. Ltd. now owns 20,120 shares of the industrial products company’s stock worth $1,871,000 after buying an additional 11,352 shares in the last quarter. Louisiana State Employees Retirement System raised its position in IDEX Corporation by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the industrial products company’s stock worth $2,249,000 after buying an additional 600 shares in the last quarter. Swiss National Bank raised its position in IDEX Corporation by 0.7% in the first quarter. Swiss National Bank now owns 126,100 shares of the industrial products company’s stock worth $11,792,000 after buying an additional 900 shares in the last quarter. BlackRock Inc. raised its position in IDEX Corporation by 7,037.4% in the first quarter. BlackRock Inc. now owns 6,425,051 shares of the industrial products company’s stock worth $600,808,000 after buying an additional 6,335,032 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. raised its position in IDEX Corporation by 2.9% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 34,128 shares of the industrial products company’s stock worth $3,191,000 after buying an additional 957 shares in the last quarter. 98.67% of the stock is owned by hedge funds and other institutional investors.

IDEX Corporation (NYSE:IEX) opened at 113.59 on Friday. IDEX Corporation has a 52-week low of $82.05 and a 52-week high of $118.08. The company has a 50-day moving average of $114.55 and a 200 day moving average of $103.28. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 30.44 and a beta of 1.20.

IDEX Corporation (NYSE:IEX) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. The business had revenue of $573.40 million during the quarter, compared to the consensus estimate of $568.43 million. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. IDEX Corporation’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, equities research analysts anticipate that IDEX Corporation will post $4.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.30%. The ex-dividend date was Wednesday, July 12th. IDEX Corporation’s dividend payout ratio (DPR) is 39.68%.

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IEX has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Wednesday, May 10th. Robert W. Baird reaffirmed a “buy” rating and set a $104.00 price objective on shares of IDEX Corporation in a research report on Friday, April 21st. BidaskClub raised shares of IDEX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $104.00 price objective on shares of IDEX Corporation in a research report on Friday, April 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $100.00 price objective (up previously from $94.00) on shares of IDEX Corporation in a research report on Friday, April 21st. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $105.00.

In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of IDEX Corporation stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the sale, the chairman now owns 142,114 shares in the company, valued at approximately $16,343,110. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

About IDEX Corporation

IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).

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Institutional Ownership by Quarter for IDEX Corporation (NYSE:IEX)

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