BNP Paribas Financial Markets Buys 19,243 Shares of IDEX Co. (NYSE:IEX)

BNP Paribas Financial Markets raised its position in IDEX Co. (NYSE:IEX - Free Report) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,972 shares of the industrial products company's stock after buying an additional 19,243 shares during the quarter. BNP Paribas Financial Markets owned 0.17% of IDEX worth $28,308,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in IDEX during the third quarter worth about $86,000. Bank of Montreal Can grew its position in shares of IDEX by 16.0% during the 3rd quarter. Bank of Montreal Can now owns 102,364 shares of the industrial products company's stock worth $22,006,000 after purchasing an additional 14,088 shares in the last quarter. DRW Securities LLC bought a new position in shares of IDEX during the third quarter worth approximately $299,000. Fisher Asset Management LLC raised its position in shares of IDEX by 7.6% in the third quarter. Fisher Asset Management LLC now owns 659,006 shares of the industrial products company's stock valued at $141,357,000 after buying an additional 46,770 shares in the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of IDEX in the third quarter valued at approximately $173,000. Institutional investors own 97.96% of the company's stock.

IDEX Price Performance

IEX stock traded down $0.47 during trading on Friday, reaching $230.63. 268,772 shares of the company were exchanged, compared to its average volume of 482,925. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The company has a market capitalization of $17.46 billion, a price-to-earnings ratio of 35.70, a P/E/G ratio of 2.44 and a beta of 0.96. The company has a 50-day moving average of $217.66 and a two-hundred day moving average of $208.26.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly 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 company had revenue of $798.20 million during the quarter, compared to analysts' expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. IDEX's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.12 EPS. As a group, equities analysts predict that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, January 17th. IDEX's payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Robert W. Baird dropped their price objective on IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Argus cut shares of IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Royal Bank of Canada increased their price objective on shares of IDEX from $236.00 to $248.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Oppenheimer cut their price target on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a report on Monday, August 5th. Finally, 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 research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $241.14.

IDEX Company Profile

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.