SG Americas Securities LLC Sells 5,399 Shares of IDEX Co. (NYSE:IEX)

SG Americas Securities LLC cut its position in shares of IDEX Co. (NYSE:IEX) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,162 shares of the industrial products company’s stock after selling 5,399 shares during the period. SG Americas Securities LLC’s holdings in IDEX were worth $6,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co bought a new stake in shares of IDEX during the first quarter valued at approximately $35,000. Quarry LP bought a new stake in shares of IDEX during the fourth quarter valued at approximately $36,000. EdgeRock Capital LLC bought a new stake in IDEX in the fourth quarter valued at $48,000. VisionPoint Advisory Group LLC bought a new stake in IDEX in the fourth quarter valued at $50,000. Finally, Headlands Technologies LLC bought a new stake in IDEX in the fourth quarter valued at $52,000. 97.96% of the stock is currently owned by institutional investors.

IDEX Trading Down 0.3 %

Shares of IEX traded down $0.52 during trading hours on Friday, hitting $194.34. 338,170 shares of the stock traded hands, compared to its average volume of 438,506. The company has a current ratio of 3.41, a quick ratio of 2.45 and a debt-to-equity ratio of 0.36. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The firm has a market capitalization of $14.71 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The business has a fifty day moving average of $201.21 and a 200-day moving average of $218.88.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts expect that IDEX Co. will post 7.85 EPS for the current year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, July 12th. IDEX’s payout ratio is 36.32%.

Analyst Ratings Changes

A number of analysts have weighed in on IEX shares. DA Davidson lowered their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus lowered their price target on IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Royal Bank of Canada lowered their price target on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Oppenheimer lowered their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.33.

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.