Atria Investments Inc decreased its holdings in IDEX Co. (NYSE:IEX - Free Report) by 26.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,545 shares of the industrial products company's stock after selling 2,376 shares during the period. Atria Investments Inc's holdings in IDEX were worth $1,404,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC bought a new position in IDEX in the first quarter worth approximately $274,000. Orion Portfolio Solutions LLC raised its stake in shares of IDEX by 31.3% in the first quarter. Orion Portfolio Solutions LLC now owns 12,628 shares of the industrial products company's stock worth $3,082,000 after purchasing an additional 3,008 shares during the last quarter. Blair William & Co. IL increased its holdings in IDEX by 6.3% in the 1st quarter. Blair William & Co. IL now owns 3,104 shares of the industrial products company's stock worth $757,000 after buying an additional 183 shares during the period. Intech Investment Management LLC lifted its position in IDEX by 346.6% during the first quarter. Intech Investment Management LLC now owns 13,799 shares of the industrial products company's stock valued at $3,367,000 after purchasing an additional 10,709 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of IDEX by 60.6% in the 1st quarter. Covestor Ltd now owns 546 shares of the industrial products company's stock valued at $133,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.
IDEX Stock Performance
IEX traded down $1.56 during trading on Friday, hitting $227.83. 1,896,161 shares of the stock were exchanged, compared to its average volume of 480,285. The firm has a market capitalization of $17.25 billion, a P/E ratio of 35.27, a PEG ratio of 2.44 and a beta of 0.96. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The stock has a fifty day moving average price of $212.21 and a two-hundred day moving average price of $207.68. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.
IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to analysts' expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 EPS. As a group, sell-side analysts predict that IDEX Co. will post 7.88 earnings per share for the current year.
IDEX Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, January 17th. IDEX's dividend payout ratio (DPR) is presently 42.72%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Oppenheimer lowered their target price on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a research note on Monday, August 5th. TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. DA Davidson reduced their price target on IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, Argus cut IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $241.14.
Get Our Latest Stock Report on IDEX
About IDEX
(
Free Report)
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.
Recommended Stories
Before you consider IDEX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IDEX wasn't on the list.
While IDEX currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
