Asset Management One Co. Ltd. Cuts Stock Holdings in IDEX Co. (NYSE:IEX)

Asset Management One Co. Ltd. lowered its stake in IDEX Co. (NYSE:IEX) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,041 shares of the industrial products company’s stock after selling 800 shares during the period. Asset Management One Co. Ltd.’s holdings in IDEX were worth $6,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its position in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after buying an additional 57 shares during the period. Whittier Trust Co. raised its holdings in 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 during the last quarter. Oregon Public Employees Retirement Fund boosted its position in IDEX by 1.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock valued at $1,303,000 after buying an additional 61 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in shares of IDEX by 5.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,385 shares of the industrial products company’s stock valued at $279,000 after acquiring an additional 67 shares during the period. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. DA Davidson cut their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada upped their target price on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, TD Cowen reduced their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Performance

Shares of IEX stock opened at $228.51 on Friday. IDEX Co. has a 12 month low of $189.33 and a 12 month high of $246.36. The stock has a market cap of $17.30 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.48 and a beta of 0.96. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The company’s fifty day moving average price is $209.33 and its 200-day moving average price is $207.62.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. IDEX’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. On average, equities analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

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.