Bamco Inc. NY Has $59.41 Million Stake in IDEX Co. (NYSE:IEX)

Bamco Inc. NY cut its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 12.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,961 shares of the industrial products company's stock after selling 37,651 shares during the period. Bamco Inc. NY owned approximately 0.37% of IDEX worth $59,408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IEX. Champlain Investment Partners LLC raised its stake in IDEX by 28.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company's stock worth $262,479,000 after buying an additional 273,460 shares during the period. Van ECK Associates Corp raised its position in shares of IDEX by 9,424.6% during the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company's stock worth $211,473,000 after purchasing an additional 1,021,439 shares during the period. King Luther Capital Management Corp grew its position in shares of IDEX by 16.2% in the 3rd quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company's stock valued at $159,314,000 after purchasing an additional 103,432 shares during the period. Fisher Asset Management LLC increased its stake in IDEX by 7.6% during the 3rd quarter. Fisher Asset Management LLC now owns 659,006 shares of the industrial products company's stock worth $141,357,000 after purchasing an additional 46,770 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in IDEX by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,443 shares of the industrial products company's stock worth $135,230,000 after buying an additional 4,629 shares during the period. Institutional investors own 97.96% of the company's stock.

IDEX Stock Down 0.6 %

Shares of NYSE IEX traded down $1.29 during trading hours on Tuesday, hitting $230.52. The company had a trading volume of 376,722 shares, compared to its average volume of 481,947. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The firm's 50 day moving average is $218.10 and its 200-day moving average is $208.10. The stock has a market capitalization of $17.45 billion, a P/E ratio of 35.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data 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. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same quarter last year, the firm posted $2.12 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. On average, analysts expect that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.20%. IDEX's dividend payout ratio is currently 42.72%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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. Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Stifel Nicolaus boosted their price target on IDEX from $232.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. TD Cowen decreased their price objective on IDEX from $240.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, Argus cut IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $241.14.

About IDEX

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.