Jade Capital Advisors LLC Makes New $2.15 Million Investment in IDEX Co. (NYSE:IEX)

Jade Capital Advisors LLC purchased a new stake in IDEX Co. (NYSE:IEX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the industrial products company's stock, valued at approximately $2,145,000. IDEX accounts for about 1.4% of Jade Capital Advisors LLC's holdings, making the stock its 22nd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in IEX. Riverview Trust Co bought a new stake in shares of IDEX during the 1st quarter valued at about $35,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of 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 purchasing an additional 100 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of IDEX during the 2nd quarter valued at about $41,000. Whittier Trust Co. boosted its position in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Stock Down 0.7 %

Shares of IDEX stock traded down $1.42 on Tuesday, hitting $207.87. The company had a trading volume of 336,162 shares, compared to its average volume of 461,657. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 2.20 and a beta of 0.95. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The stock has a 50 day moving average of $205.17 and a 200-day moving average of $209.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.02. The company had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. IDEX's revenue was down 4.6% on a year-over-year basis. During the same period last year, the business posted $2.18 earnings per share. As a group, sell-side analysts forecast that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, October 11th. IDEX's payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IEX shares. DA Davidson cut 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. StockNews.com lowered IDEX from a "buy" rating to a "hold" rating in a report on Thursday, July 11th. Stifel Nicolaus increased 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. Argus lowered IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Finally, TD Cowen cut their price target on IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Three equities 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $239.43.

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.