996 Shares in IDEX Co. (NYSE:IEX) Bought by BluePath Capital Management LLC

BluePath Capital Management LLC acquired a new position in shares of IDEX Co. (NYSE:IEX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 996 shares of the industrial products company’s stock, valued at approximately $243,000.

Other large investors have also recently bought and sold shares of the company. Impax Asset Management Group plc boosted its position in shares of IDEX by 4.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after acquiring an additional 84,502 shares in the last quarter. Norges Bank acquired a new position in shares of IDEX during the 4th quarter worth $237,425,000. Alecta Tjanstepension Omsesidigt lifted its position in shares of IDEX by 420.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after buying an additional 631,172 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in IDEX by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock valued at $132,164,000 after acquiring an additional 15,202 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in IDEX by 19.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 492,810 shares of the industrial products company’s stock worth $106,994,000 after acquiring an additional 81,780 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IEX. Oppenheimer lifted their price target on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Robert W. Baird cut their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Finally, Citigroup upped their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $250.71.

IDEX Trading Down 0.6 %

IDEX stock traded down $1.15 during mid-day trading on Wednesday, hitting $195.26. 276,082 shares of the stock were exchanged, compared to its average volume of 419,990. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The firm’s fifty day simple moving average is $211.19 and its two-hundred day simple moving average is $220.88. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.02 and a beta of 0.96. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company posted $2.09 EPS. Analysts forecast that IDEX Co. will post 8.31 EPS for the current year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, July 12th. IDEX’s payout ratio is 36.32%.

About IDEX

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.