Crossmark Global Holdings Inc. Acquires 530 Shares of IDEX Co. (IEX)
Crossmark Global Holdings Inc. boosted its holdings in IDEX Co. (NYSE:IEX) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,229 shares of the industrial products company’s stock after acquiring an additional 530 shares during the period. Crossmark Global Holdings Inc.’s holdings in IDEX were worth $1,260,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Gateway Investment Advisers LLC bought a new position in IDEX in the second quarter worth about $208,000. Stock Yards Bank & Trust Co. bought a new position in IDEX in the second quarter worth about $208,000. HRT Financial LLC bought a new position in IDEX in the first quarter worth about $215,000. Brinker Capital Inc. bought a new position in IDEX in the first quarter worth about $231,000. Finally, IBM Retirement Fund bought a new position in IDEX in the first quarter worth about $239,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.
NYSE IEX opened at $151.65 on Friday. IDEX Co. has a 12 month low of $110.25 and a 12 month high of $154.62. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.43. The company has a market cap of $11.75 billion, a P/E ratio of 31.34, a P/E/G ratio of 2.62 and a beta of 1.22.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Shareholders of record on Monday, July 16th were given a $0.43 dividend. The ex-dividend date was Friday, July 13th. This represents a $1.72 annualized dividend and a yield of 1.13%. IDEX’s dividend payout ratio (DPR) is 39.91%.
A number of equities analysts have issued reports on IEX shares. DA Davidson started coverage on shares of IDEX in a report on Thursday, April 12th. They issued a “neutral” rating and a $140.00 target price on the stock. Stifel Nicolaus cut their target price on shares of IDEX from $145.00 to $140.00 and set a “hold” rating on the stock in a report on Monday, April 16th. BMO Capital Markets raised their target price on shares of IDEX from $143.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, May 1st. Janney Montgomery Scott reaffirmed a “neutral” rating and set a $140.00 price target (up previously from $139.00) on shares of IDEX in a report on Tuesday, May 1st. They noted that the move was a valuation call. Finally, Robert W. Baird cut their price target on IDEX from $160.00 to $144.00 and set an “outperform” rating on the stock in a report on Tuesday, May 1st. Thirteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $147.90.
In other IDEX news, VP Michael J. Yates sold 5,804 shares of IDEX stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $154.13, for a total value of $894,570.52. Following the transaction, the vice president now owns 32,376 shares in the company, valued at $4,990,112.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Denise R. Cade sold 7,416 shares of IDEX stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $138.57, for a total transaction of $1,027,635.12. Following the completion of the transaction, the senior vice president now owns 6,302 shares in the company, valued at approximately $873,268.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,101 shares of company stock worth $21,192,326. 1.20% of the stock is currently owned by company insiders.
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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