King Luther Capital Management Corp Acquires 103,432 Shares of IDEX Co. (NYSE:IEX)

King Luther Capital Management Corp increased its position in IDEX Co. (NYSE:IEX - Free Report) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 742,724 shares of the industrial products company's stock after purchasing an additional 103,432 shares during the quarter. King Luther Capital Management Corp owned approximately 0.98% of IDEX worth $159,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC grew its stake in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock worth $30,000 after purchasing an additional 59 shares in the last quarter. Assetmark Inc. bought a new position in IDEX in the third quarter worth approximately $39,000. EdgeRock Capital LLC bought a new position in IDEX in the second quarter worth approximately $41,000. Whittier Trust Co. grew its stake in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $42,000 after purchasing an additional 58 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock worth $43,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Oppenheimer dropped their price objective on IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada increased their target price on IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Argus cut IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Finally, DA Davidson dropped their target price on IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $241.14.

IDEX Stock Performance

Shares of IEX opened at $223.11 on Thursday. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The stock has a fifty day moving average price of $213.84 and a 200-day moving average price of $207.76. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The firm has a market cap of $16.89 billion, a PE ratio of 34.54, a P/E/G ratio of 2.36 and a beta of 0.96.

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

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.24%. IDEX's dividend payout ratio (DPR) is 42.72%.

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.

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.