Victory Capital Management Inc. Raises Holdings in IDEX Co. (NYSE:IEX)

Victory Capital Management Inc. increased its holdings in shares of IDEX Co. (NYSE:IEX) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,197 shares of the industrial products company’s stock after purchasing an additional 1,576 shares during the quarter. Victory Capital Management Inc.’s holdings in IDEX were worth $11,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of IDEX during the fourth quarter valued at approximately $518,000. Private Advisor Group LLC lifted its holdings in shares of IDEX by 6.4% during the 4th quarter. Private Advisor Group LLC now owns 2,418 shares of the industrial products company’s stock valued at $525,000 after buying an additional 146 shares during the period. Principal Securities Inc. purchased a new position in shares of IDEX in the 4th quarter worth $61,000. Dimensional Fund Advisors LP grew its holdings in shares of IDEX by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 369,268 shares of the industrial products company’s stock worth $80,172,000 after acquiring an additional 20,785 shares during the period. Finally, Ieq Capital LLC increased its position in IDEX by 22.9% during the fourth quarter. Ieq Capital LLC now owns 1,426 shares of the industrial products company’s stock valued at $310,000 after acquiring an additional 266 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Up 0.8 %

Shares of IEX opened at $199.78 on Friday. The business’s 50 day moving average is $200.32 and its 200 day moving average is $214.71. The company has a current ratio of 3.41, a quick ratio of 2.52 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 company has a market capitalization of $15.12 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. The firm had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. Research analysts expect that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a $0.69 dividend. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.38%. IDEX’s dividend payout ratio is currently 36.32%.

Analysts Set New Price Targets

IEX has been the subject of a number of recent research reports. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Oppenheimer cut their target price 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. Stifel Nicolaus reduced their price objective on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Robert W. Baird lowered their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Argus cut IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.50.

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.