FORA Capital LLC Reduces Stake in IDEX Co. (NYSE:IEX)

FORA Capital LLC lessened its holdings in IDEX Co. (NYSE:IEX - Free Report) by 64.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,453 shares of the industrial products company's stock after selling 6,384 shares during the quarter. FORA Capital LLC's holdings in IDEX were worth $741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC raised its position in shares of IDEX by 8.8% during the 1st quarter. Tidal Investments LLC now owns 4,383 shares of the industrial products company's stock worth $1,070,000 after acquiring an additional 356 shares in the last quarter. Virtu Financial LLC acquired a new stake in IDEX during the first quarter worth approximately $469,000. Swedbank AB purchased a new stake in shares of IDEX during the 1st quarter worth approximately $11,765,000. Atria Investments Inc boosted its holdings in shares of IDEX by 4.5% in the 1st quarter. Atria Investments Inc now owns 7,599 shares of the industrial products company's stock valued at $1,854,000 after buying an additional 324 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of IDEX by 301.3% in the 1st quarter. Cetera Investment Advisers now owns 6,902 shares of the industrial products company's stock valued at $1,684,000 after buying an additional 5,182 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Performance

IDEX stock traded down $0.37 during trading hours on Friday, reaching $230.73. 268,772 shares of the stock were exchanged, compared to its average volume of 482,925. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The stock has a market cap of $17.47 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.44 and a beta of 0.96. 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 firm's 50 day moving average is $217.22 and its 200 day moving average is $208.23.

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

IDEX Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IEX shares. Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. DA Davidson decreased 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 cut their price target on IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada increased their price objective on IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, TD Cowen lowered their target price 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.