Dimensional Fund Advisors LP Purchases 78,551 Shares of IDEX Co. (NYSE:IEX)

Dimensional Fund Advisors LP raised its position in shares of IDEX Co. (NYSE:IEX) by 20.0% during the second quarter, HoldingsChannel.com reports. The fund owned 470,672 shares of the industrial products company’s stock after buying an additional 78,551 shares during the quarter. Dimensional Fund Advisors LP’s holdings in IDEX were worth $94,698,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of IDEX during the 1st quarter valued at about $35,000. Quarry LP acquired a new stake in shares of IDEX during the 4th quarter worth approximately $36,000. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the 2nd quarter worth approximately $41,000. Whittier Trust Co. increased its stake in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IEX shares. TD Cowen decreased their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Royal Bank of Canada reduced their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus cut their target price on IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Four 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, the company has an average rating of “Moderate Buy” and an average target price of $233.50.

IDEX Stock Up 1.2 %

IEX stock opened at $212.48 on Wednesday. The stock’s 50 day moving average is $201.13 and its 200-day moving average is $213.09. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The firm has a market capitalization of $16.08 billion, a PE ratio of 27.96, a P/E/G ratio of 2.09 and a beta of 0.95. 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 (NYSE:IEX) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.02. The business had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned $2.18 EPS. Sell-side analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.69 dividend. The ex-dividend date is Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.30%. IDEX’s dividend payout ratio (DPR) is 36.32%.

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.