New Mexico Educational Retirement Board Sells 100 Shares of IDEX Co. (NYSE:IEX)

New Mexico Educational Retirement Board cut its holdings in shares of IDEX Co. (NYSE:IEX) by 2.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,600 shares of the industrial products company’s stock after selling 100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in IDEX were worth $753,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Studio Investment Management LLC raised its stake in shares of IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 45 shares during the period. Bleakley Financial Group LLC grew its holdings in IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after buying an additional 48 shares in the last quarter. Albert D Mason Inc. lifted its holdings in shares of IDEX by 1.3% in the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock worth $948,000 after buying an additional 56 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares during the period. Finally, Diversified Trust Co grew its stake in IDEX by 1.0% during the fourth quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after acquiring an additional 59 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on IEX. Stifel Nicolaus raised their price target on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird reduced their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Citigroup lowered their price target on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada cut their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

IDEX Stock Performance

Shares of NYSE IEX opened at $196.40 on Wednesday. The stock’s 50-day moving average is $211.46 and its 200 day moving average is $211.59. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 1.98 and a beta of 0.97. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a current ratio of 2.53, a quick ratio of 2.11 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, sell-side analysts anticipate that IDEX Co. will post 8.37 EPS for the current fiscal year.

IDEX 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.