GAMMA Investing LLC Acquires 495 Shares of IDEX Co. (NYSE:IEX)

GAMMA Investing LLC boosted its holdings in IDEX Co. (NYSE:IEX) by 416.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 614 shares of the industrial products company’s stock after acquiring an additional 495 shares during the period. GAMMA Investing LLC’s holdings in IDEX were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC grew its holdings in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares in the last quarter. Assetmark Inc. bought a new stake in shares of IDEX in the third quarter valued at about $39,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 57 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in IDEX in the 3rd quarter worth about $86,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IEX shares. Robert W. Baird decreased their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Citigroup lifted their price objective on IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada increased their target price on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

IDEX Price Performance

IDEX stock opened at $208.73 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The stock has a market capitalization of $15.81 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The stock has a fifty day moving average of $221.78 and a 200-day moving average of $209.80.

IDEX (NYSE:IEX) last issued its earnings results 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. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts expect that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.32%. IDEX’s dividend payout ratio is currently 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.