Entropy Technologies LP Makes New Investment in IDEX Co. (NYSE:IEX)

Entropy Technologies LP purchased a new position in shares of IDEX Co. (NYSE:IEX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,002 shares of the industrial products company's stock, valued at approximately $1,931,000.

Several other hedge funds and other institutional investors have also modified their holdings of IEX. Catalyst Capital Advisors LLC raised its stake in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. acquired a new stake in IDEX during the third quarter valued at approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 100 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the 2nd quarter worth about $41,000. Finally, Whittier Trust Co. boosted its holdings 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 worth $42,000 after acquiring an additional 58 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Performance

Shares of IDEX stock traded up $2.82 during mid-day trading on Wednesday, hitting $230.79. 219,322 shares of the stock were exchanged, compared to its average volume of 470,771. The company has a market capitalization of $17.48 billion, a P/E ratio of 35.55, a P/E/G ratio of 2.41 and a beta of 0.96. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The company has a 50-day simple moving average of $210.29 and a 200 day simple moving average of $207.42.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the company earned $2.12 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Friday, October 11th. IDEX's dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IEX. DA Davidson dropped their target price on IDEX from $220.00 to $210.00 and set a "neutral" rating for the company in a research report on Monday, August 5th. Oppenheimer lowered their price objective on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Stifel Nicolaus raised their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Argus cut IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada boosted their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and a consensus 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.