Mediolanum International Funds Ltd reduced its position in shares of IDEX Co. (NYSE:IEX - Free Report) by 23.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,074 shares of the industrial products company's stock after selling 7,262 shares during the quarter. Mediolanum International Funds Ltd's holdings in IDEX were worth $4,952,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in IDEX during the second quarter valued at $41,000. Whittier Trust Co. lifted 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 buying an additional 58 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake 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 acquiring an additional 100 shares during the period. UMB Bank n.a. increased its holdings in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock worth $48,000 after acquiring an additional 57 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in IDEX during the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 97.96% of the company's stock.
IDEX Price Performance
IDEX stock traded down $0.66 during midday trading on Friday, reaching $202.82. 268,778 shares of the stock traded hands, compared to its average volume of 418,608. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The stock's fifty day moving average is $205.96 and its 200-day moving average is $208.04. The stock has a market cap of $15.35 billion, a P/E ratio of 26.55, a PEG ratio of 2.20 and a beta of 0.95.
IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.02. The firm had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. As a group, equities research analysts anticipate that IDEX Co. will post 7.87 EPS for the current year.
IDEX Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.69 dividend. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.36%. IDEX's dividend payout ratio is currently 36.13%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on IEX shares. Stifel Nicolaus increased their price objective on shares of IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Argus lowered IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. TD Cowen lowered their price objective on IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Oppenheimer cut their target price on IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Finally, Royal Bank of Canada lowered their price target on IDEX from $250.00 to $236.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, IDEX currently has an average rating of "Moderate Buy" and an average target price of $239.43.
Check Out Our Latest Research Report on IDEX
IDEX Company Profile
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Free Report)
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.
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