Public Employees Retirement Association of Colorado Has $62.96 Million Position in IDEX Co. (NYSE:IEX)

Public Employees Retirement Association of Colorado cut its position in shares of IDEX Co. (NYSE:IEX) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,900 shares of the industrial products company’s stock after selling 209 shares during the period. Public Employees Retirement Association of Colorado owned 0.41% of IDEX worth $62,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after buying an additional 555,250 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of IDEX by 75.6% during the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after acquiring an additional 223,422 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in IDEX by 19.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 492,810 shares of the industrial products company’s stock valued at $106,994,000 after acquiring an additional 81,780 shares during the period. Dimensional Fund Advisors LP lifted its holdings in IDEX by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock valued at $94,698,000 after purchasing an additional 78,551 shares during the last quarter. Finally, CCLA Investment Management boosted its position in IDEX by 1.8% during the second quarter. CCLA Investment Management now owns 433,403 shares of the industrial products company’s stock worth $86,697,000 after purchasing an additional 7,615 shares during the period. 97.96% of the stock is owned by institutional investors.

IDEX Trading Up 2.4 %

IEX opened at $210.50 on Friday. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a 50-day simple moving average of $200.80 and a 200 day simple moving average of $214.02.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. During the same quarter last year, the business posted $2.18 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts predict that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, October 11th. IDEX’s dividend payout ratio is presently 36.32%.

Wall Street Analyst Weigh In

IEX has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. TD Cowen decreased their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Oppenheimer dropped their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Four equities research 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, IDEX has an average rating of “Moderate Buy” and an average target price of $233.50.

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.