Eventide Asset Management LLC Boosts Holdings in IDEX Co. (NYSE:IEX)

Eventide Asset Management LLC raised its holdings in IDEX Co. (NYSE:IEX - Free Report) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,587 shares of the industrial products company's stock after buying an additional 4,580 shares during the period. Eventide Asset Management LLC owned about 0.09% of IDEX worth $15,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IEX. Catalyst Capital Advisors LLC boosted its stake in IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. purchased a new position in shares of IDEX during the third quarter valued at approximately $39,000. EdgeRock Capital LLC bought a new stake in IDEX during the second quarter worth $41,000. Whittier Trust Co. raised its position in 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 buying an additional 58 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in IDEX by 100.0% during the 3rd 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 in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Stock Performance

NYSE IEX traded down $0.47 on Friday, hitting $230.63. 268,772 shares of the stock traded hands, compared to its average volume of 482,925. 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 business's fifty day moving average is $217.66 and its two-hundred day moving average is $208.26. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.44 and a beta of 0.96.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. As a group, equities analysts anticipate that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued 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 is Friday, January 17th. IDEX's payout ratio is currently 42.72%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Argus lowered shares of IDEX from a "buy" rating to a "hold" rating in a research note 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 company an "outperform" rating in a research note on Thursday, October 31st. DA Davidson dropped their target price on shares of IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a research report on Monday, August 5th. TD Cowen reduced their target price on IDEX from $240.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, Stifel Nicolaus lifted their price target on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $241.14.

IDEX 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.