IDEX Co. (NYSE:IEX) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its position in IDEX Co. (NYSE:IEX) by 20.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,332 shares of the industrial products company’s stock after selling 2,137 shares during the quarter. Exchange Traded Concepts LLC’s holdings in IDEX were worth $1,787,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of IEX. Quarry LP acquired a new position in IDEX in the 4th quarter valued at $36,000. Quadrature Capital Ltd increased its stake in IDEX by 29.6% in the 4th quarter. Quadrature Capital Ltd now owns 12,685 shares of the industrial products company’s stock valued at $2,755,000 after buying an additional 2,898 shares during the period. HighPoint Advisor Group LLC purchased a new stake in shares of IDEX during the 4th quarter worth $323,000. Nomura Holdings Inc. purchased a new stake in shares of IDEX during the 4th quarter worth $332,000. Finally, Mather Group LLC. purchased a new stake in shares of IDEX during the 1st quarter worth $123,000. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Stifel Nicolaus decreased their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Oppenheimer decreased their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, IDEX has an average rating of “Moderate Buy” and a consensus price target of $238.29.

IDEX Stock Down 0.7 %

IEX opened at $211.76 on Wednesday. The firm has a 50 day moving average price of $203.78 and a 200 day moving average price of $209.83. The company has a market cap of $16.03 billion, a PE ratio of 27.86, a price-to-earnings-growth 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 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) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The firm had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. IDEX’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.18 EPS. Sell-side analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, October 11th. IDEX’s dividend payout ratio is presently 36.32%.

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.