Wealthfront Advisers LLC boosted its holdings in IDEX Co. (NYSE:IEX) by 161.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,284 shares of the industrial products company’s stock after purchasing an additional 2,026 shares during the period. Wealthfront Advisers LLC’s holdings in IDEX were worth $538,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in IDEX by 2.0% during the 2nd quarter. BlackRock Inc. now owns 8,206,026 shares of the industrial products company’s stock valued at $1,412,586,000 after acquiring an additional 157,873 shares during the period. Atlanta Capital Management Co. L L C lifted its position in IDEX by 1.0% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,956,871 shares of the industrial products company’s stock worth $336,856,000 after acquiring an additional 19,000 shares in the last quarter. FMR LLC lifted its position in IDEX by 5.4% during the 1st quarter. FMR LLC now owns 1,826,878 shares of the industrial products company’s stock worth $277,210,000 after acquiring an additional 93,320 shares in the last quarter. Invesco Ltd. lifted its position in IDEX by 69.3% during the 2nd quarter. Invesco Ltd. now owns 1,469,664 shares of the industrial products company’s stock worth $252,989,000 after acquiring an additional 601,539 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in IDEX by 1.0% during the 2nd quarter. Impax Asset Management Group plc now owns 1,360,284 shares of the industrial products company’s stock worth $234,159,000 after acquiring an additional 12,822 shares in the last quarter. Hedge funds and other institutional investors own 95.25% of the company’s stock.
IEX has been the topic of a number of recent analyst reports. Citigroup initiated coverage on IDEX in a research report on Monday, September 30th. They issued a “neutral” rating and a $175.00 target price on the stock. Wells Fargo & Co decreased their price target on IDEX from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. ValuEngine cut IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their price target on IDEX from $157.00 to $162.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Rosenblatt Securities assumed coverage on IDEX in a report on Thursday. They issued a “buy” rating and a $185.00 price objective for the company. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $174.14.
Shares of NYSE IEX traded down $0.76 during mid-day trading on Friday, hitting $159.62. 211,681 shares of the company traded hands, compared to its average volume of 464,973. The business has a 50 day moving average of $159.81 and a two-hundred day moving average of $161.59. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 2.76 and a beta of 1.21. The company has a quick ratio of 2.39, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. IDEX Co. has a 1 year low of $117.72 and a 1 year high of $173.84.
IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.06. The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $641.66 million. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 EPS. As a group, research analysts anticipate that IDEX Co. will post 5.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. IDEX’s dividend payout ratio is 36.97%.
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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