Proficio Capital Partners LLC Purchases Shares of 48,794 IDEX Co. (NYSE:IEX)

Proficio Capital Partners LLC acquired a new stake in shares of IDEX Co. (NYSE:IEX) during the 4th quarter, Holdings Channel reports. The fund acquired 48,794 shares of the industrial products company’s stock, valued at approximately $10,212,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Studio Investment Management LLC grew its holdings in 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 in the last quarter. 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 purchasing an additional 48 shares in the last quarter. Albert D Mason Inc. grew its holdings in IDEX by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after purchasing an additional 56 shares in the last quarter. Diversified Trust Co grew its holdings in IDEX by 1.0% during the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after purchasing an additional 59 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC grew its holdings in IDEX by 2.7% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock valued at $481,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 2.4 %

NYSE IEX opened at $182.47 on Friday. The company’s fifty day moving average price is $202.65 and its two-hundred day moving average price is $210.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a 12 month low of $177.71 and a 12 month high of $246.36. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) 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%. As a group, research analysts predict that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IEX shares. 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. Citigroup lowered their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. DA Davidson lowered their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reduced their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, IDEX has an average rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Company 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.