Brown Advisory Inc. Sells 156,957 Shares of IDEX Co. (NYSE:IEX)

May 22, 2023

Brown Advisory Inc. lessened its stake in IDEX Co. (NYSE:IEX - Get Rating) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,842,366 shares of the industrial products company's stock after selling 156,957 shares during the quarter. Brown Advisory Inc. owned about 2.44% of IDEX worth $420,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Baird Financial Group Inc. increased its holdings in IDEX by 0.5% in the fourth quarter. Baird Financial Group Inc. now owns 467,212 shares of the industrial products company's stock valued at $106,679,000 after purchasing an additional 2,244 shares during the last quarter. BOKF NA grew its stake in IDEX by 0.5% in the fourth quarter. BOKF NA now owns 18,378 shares of the industrial products company's stock valued at $4,196,000 after acquiring an additional 92 shares during the period. Thematics Asset Management acquired a new position in IDEX in the fourth quarter valued at about $10,653,000. Natixis grew its stake in IDEX by 74.5% in the fourth quarter. Natixis now owns 8,375 shares of the industrial products company's stock valued at $1,912,000 after acquiring an additional 3,576 shares during the period. Finally, Wells Fargo & Company MN grew its stake in IDEX by 13.8% in the fourth quarter. Wells Fargo & Company MN now owns 62,638 shares of the industrial products company's stock valued at $14,302,000 after acquiring an additional 7,590 shares during the period. Institutional investors own 96.58% of the company's stock.

A number of research analysts have issued reports on IEX shares. Stifel Nicolaus boosted their target price on IDEX from $242.00 to $246.00 and gave the company a "hold" rating in a research note on Monday, April 17th. Royal Bank of Canada reduced their price objective on IDEX from $252.00 to $243.00 in a research report on Friday, April 28th. Robert W. Baird reduced their price objective on IDEX from $255.00 to $230.00 in a research report on Friday, April 28th. StockNews.com raised IDEX from a "hold" rating to a "buy" rating in a research report on Friday, May 19th. Finally, Mizuho reduced their price objective on IDEX from $227.00 to $200.00 in a research report on Friday, April 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $236.17.

NYSE:IEX traded up $1.88 on Wednesday, hitting $207.42. The company's stock had a trading volume of 76,929 shares, compared to its average volume of 408,661. The company has a current ratio of 3.10, a quick ratio of 2.09 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $211.95 and a two-hundred day moving average of $223.16. The firm has a market capitalization of $15.68 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. IDEX Co. has a one year low of $172.18 and a one year high of $246.23.

IDEX (NYSE:IEX - Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.07. The firm had revenue of $845.40 million for the quarter, compared to analyst estimates of $818.87 million. IDEX had a return on equity of 21.14% and a net margin of 17.91%. The business's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 earnings per share. Research analysts predict that IDEX Co. will post 8.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, June 8th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from IDEX's previous quarterly dividend of $0.60. IDEX's dividend payout ratio (DPR) is 31.09%.

IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.

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