State of Alaska Department of Revenue Has $4.32 Million Holdings in IDEX Co. (NYSE:IEX)

Posted by Defense World Staff on Jun 30th, 2023

State of Alaska Department of Revenue lessened its stake in IDEX Co. (NYSE:IEX – Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,692 shares of the industrial products company’s stock after selling 85 shares during the quarter. State of Alaska Department of Revenue’s holdings in IDEX were worth $4,318,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of IDEX by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,188,089 shares of the industrial products company’s stock valued at $1,836,240,000 after buying an additional 252,058 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of IDEX by 10.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,269,952 shares of the industrial products company’s stock valued at $746,628,000 after buying an additional 306,008 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of IDEX by 3.9% in the 1st quarter. Wellington Management Group LLP now owns 3,106,765 shares of the industrial products company’s stock valued at $595,660,000 after buying an additional 117,605 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of IDEX by 1.8% in the 4th quarter. Alliancebernstein L.P. now owns 2,736,556 shares of the industrial products company’s stock valued at $624,838,000 after buying an additional 48,631 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of IDEX by 274.1% in the 4th quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock valued at $491,214,000 after buying an additional 1,576,263 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

IDEX Stock Up 1.7 %

Shares of NYSE IEX opened at $213.53 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.09 and a current ratio of 3.10. IDEX Co. has a 52 week low of $177.26 and a 52 week high of $246.23. The stock has a market capitalization of $16.14 billion, a P/E ratio of 27.66, a PEG ratio of 2.02 and a beta of 1.00. The stock’s fifty day moving average is $207.32 and its 200 day moving average is $220.07.

IDEX (NYSE:IEX – Free Report) last issued its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.07. IDEX had a return on equity of 21.14% and a net margin of 17.91%. The company had revenue of $845.40 million for the quarter, compared to analysts’ expectations of $818.87 million. During the same quarter last year, the business earned $1.96 earnings per share. IDEX’s revenue was up 12.6% on a year-over-year basis. Sell-side analysts forecast that IDEX Co. will post 8.51 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Thursday, July 13th. IDEX’s payout ratio is currently 33.16%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Mizuho cut their price target on IDEX from $227.00 to $200.00 in a report on Friday, April 28th. StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a report on Friday, May 19th. Stifel Nicolaus raised their price target on IDEX from $242.00 to $246.00 and gave the company a “hold” rating in a report on Monday, April 17th. Robert W. Baird cut their price target on IDEX from $255.00 to $230.00 in a report on Friday, April 28th. Finally, Sanford C. Bernstein cut their price target on IDEX from $225.00 to $220.00 in a report on Friday, April 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.17.

About IDEX

(Free Report)

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.