Renaissance Technologies LLC Makes New Investment in IDEX Co. (NYSE:IEX)

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Renaissance Technologies LLC bought a new position in shares of IDEX Co. (NYSE:IEX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 92,225 shares of the industrial products company’s stock, valued at approximately $15,876,000. Renaissance Technologies LLC owned 0.12% of IDEX as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. grew its holdings in shares of IDEX by 64.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $28,000 after buying an additional 72 shares during the period. Bbva USA Bancshares Inc. grew its holdings in shares of IDEX by 1.3% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 5,835 shares of the industrial products company’s stock valued at $1,004,000 after buying an additional 74 shares during the period. ETF Managers Group LLC grew its holdings in shares of IDEX by 8.9% in the 1st quarter. ETF Managers Group LLC now owns 1,013 shares of the industrial products company’s stock valued at $154,000 after buying an additional 83 shares during the period. Farr Miller & Washington LLC DC grew its holdings in shares of IDEX by 3.7% in the 2nd quarter. Farr Miller & Washington LLC DC now owns 2,495 shares of the industrial products company’s stock valued at $429,000 after buying an additional 90 shares during the period. Finally, Raymond James Trust N.A. grew its holdings in shares of IDEX by 7.5% in the 2nd quarter. Raymond James Trust N.A. now owns 1,596 shares of the industrial products company’s stock valued at $274,000 after buying an additional 112 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

NYSE IEX traded down $0.45 on Thursday, reaching $169.96. The company had a trading volume of 2,699 shares, compared to its average volume of 389,742. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 3.93 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.53 and a current ratio of 3.36. IDEX Co. has a 1-year low of $117.72 and a 1-year high of $173.84. The company’s fifty day moving average is $164.72 and its 200-day moving average is $159.24.

IDEX (NYSE:IEX) last announced its earnings results on Thursday, July 25th. The industrial products company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. The firm had revenue of $642.10 million during the quarter, compared to analyst estimates of $655.87 million. IDEX had a net margin of 17.11% and a return on equity of 21.20%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 EPS. On average, research analysts forecast that IDEX Co. will post 5.83 earnings per share for the current year.

In other IDEX news, Director William M. Cook sold 4,080 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $161.93, for a total transaction of $660,674.40. Following the sale, the director now directly owns 22,308 shares of the company’s stock, valued at approximately $3,612,334.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $168.00, for a total transaction of $672,000.00. Following the sale, the senior vice president now directly owns 5,128 shares in the company, valued at $861,504. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,229 shares of company stock valued at $25,975,905. Company insiders own 1.20% of the company’s stock.

Several brokerages have recently issued reports on IEX. Zacks Investment Research lowered shares of IDEX from a “buy” rating to a “hold” rating and set a $181.00 price target for the company. in a report on Monday, July 1st. Wells Fargo & Co boosted their price target on shares of IDEX from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus boosted their price target on shares of IDEX from $157.00 to $162.00 and gave the company a “hold” rating in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. IDEX presently has an average rating of “Hold” and an average price target of $162.38.

About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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