Ceredex Value Advisors LLC Grows Stock Holdings in IDEX Co. (NYSE:IEX)

Ceredex Value Advisors LLC boosted its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 436,550 shares of the industrial products company's stock after acquiring an additional 20,175 shares during the period. IDEX accounts for 1.8% of Ceredex Value Advisors LLC's portfolio, making the stock its 11th largest holding. Ceredex Value Advisors LLC owned approximately 0.58% of IDEX worth $93,640,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of IEX. EdgeRock Capital LLC purchased a new position in shares of IDEX during the second quarter valued at about $41,000. Whittier Trust Co. increased its stake in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $42,000 after acquiring an additional 58 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings 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 worth $43,000 after acquiring an additional 100 shares in the last quarter. 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 acquiring an additional 57 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in shares of IDEX in the second quarter valued at $51,000. 97.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on IEX. Royal Bank of Canada lifted their price objective on shares of IDEX from $236.00 to $248.00 and gave the stock an "outperform" rating in a research note on Thursday. Stifel Nicolaus lifted their price target on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Argus downgraded IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Oppenheimer dropped their target price on IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a report on Monday, August 5th. Finally, DA Davidson decreased their price target on IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, IDEX currently has a consensus rating of "Moderate Buy" and an average price target of $241.14.

IDEX Stock Up 0.7 %

Shares of IDEX stock traded up $1.41 on Friday, reaching $216.05. The stock had a trading volume of 725,543 shares, compared to its average volume of 467,504. IDEX Co. has a 1 year low of $189.33 and a 1 year high of $246.36. The company has a 50 day moving average price of $207.06 and a 200 day moving average price of $207.65. The company has a quick ratio of 2.52, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $16.36 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.32 and a beta of 0.96.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly 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 business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 earnings per share. As a group, equities research analysts forecast that IDEX Co. will post 7.86 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.28%. The ex-dividend date was Friday, October 11th. IDEX's dividend payout ratio is presently 42.72%.

IDEX Company 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.