Oppenheimer Asset Management Inc. Grows Stock Position in IDEX Co. (NYSE:IEX)

Oppenheimer Asset Management Inc. increased its holdings in IDEX Co. (NYSE:IEX) by 20.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,327 shares of the industrial products company’s stock after buying an additional 1,894 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in IDEX were worth $2,279,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IEX. Riverview Trust Co purchased a new position in shares of IDEX during the 1st quarter worth $35,000. Quarry LP bought a new stake in IDEX during the fourth quarter valued at about $36,000. EdgeRock Capital LLC purchased a new stake in IDEX in the second quarter worth about $41,000. Whittier Trust Co. raised its stake in shares of 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 buying an additional 58 shares during the period. Finally, UMB Bank n.a. lifted 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 buying an additional 57 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Up 1.0 %

IEX opened at $204.69 on Wednesday. The company has a market capitalization of $15.49 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The firm has a 50-day simple moving average of $200.46 and a two-hundred day simple moving average of $214.32. 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 52 week low of $183.76 and a 52 week high of $246.36.

IDEX (NYSE:IEX) last announced 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. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same period in the prior year, the company earned $2.18 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. Analysts forecast that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, July 12th. IDEX’s dividend payout ratio is presently 36.32%.

Analysts Set New Price Targets

IEX has been the subject of several analyst reports. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Royal Bank of Canada reduced their price objective on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus lowered their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. 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. Finally, TD Cowen dropped their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.50.

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.