Inspire Advisors LLC Invests $749,000 in IDEX Co. (NYSE:IEX)

Inspire Advisors LLC bought a new stake in IDEX Co. (NYSE:IEX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,492 shares of the industrial products company’s stock, valued at approximately $749,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in shares of IDEX during the 1st quarter worth approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in IDEX in the second quarter valued at $41,000. Whittier Trust Co. grew its position in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Up 0.3 %

NYSE IEX opened at $210.47 on Friday. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.20 and a beta of 0.95. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $204.81 and a 200-day moving average of $209.62.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. During the same quarter last year, the business earned $2.18 earnings per share. IDEX’s revenue was down 4.6% on a year-over-year basis. On average, equities research analysts expect that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a yield of 1.31%. IDEX’s dividend payout ratio (DPR) is 36.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Robert W. Baird reduced their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. TD Cowen decreased their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus upped their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.43.

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.