Mesirow Financial Investment Management Inc. Makes New Investment in IDEX Co. (NYSE:IEX)

Mesirow Financial Investment Management Inc. bought a new stake in IDEX Co. (NYSE:IEX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 938 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in IDEX by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after acquiring an additional 555,250 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of IDEX by 9,424.6% during the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after purchasing an additional 1,021,439 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after purchasing an additional 223,422 shares in the last quarter. Dimensional Fund Advisors LP raised its position in IDEX by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock worth $94,698,000 after purchasing an additional 78,551 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its holdings in IDEX by 4.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company’s stock worth $93,640,000 after buying an additional 20,175 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on IEX. TD Cowen dropped their target price on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada upped their target price on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. DA Davidson lowered their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Stifel Nicolaus increased their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Oppenheimer reduced their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Trading Down 0.6 %

Shares of NYSE IEX opened at $227.97 on Wednesday. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company’s fifty day moving average is $210.29 and its 200-day moving average is $207.42. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 2.42 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The firm 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%. The business’s 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. Equities research analysts predict that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s dividend payout ratio 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.