Mutual of America Capital Management LLC Reduces Stock Holdings in IDEX Co. (NYSE:IEX)

Mutual of America Capital Management LLC cut its position in IDEX Co. (NYSE:IEX) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,549 shares of the industrial products company’s stock after selling 370 shares during the quarter. Mutual of America Capital Management LLC’s holdings in IDEX were worth $1,921,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. UBS Group AG raised its position in shares of IDEX by 177.3% in the fourth quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock valued at $12,431,000 after purchasing an additional 36,606 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in IDEX by 6.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 20,232 shares of the industrial products company’s stock worth $4,393,000 after acquiring an additional 1,242 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of IDEX by 3.9% during the fourth quarter. TD Asset Management Inc now owns 144,916 shares of the industrial products company’s stock worth $31,463,000 after purchasing an additional 5,476 shares in the last quarter. Olympiad Research LP purchased a new stake in IDEX in the fourth quarter valued at approximately $314,000. Finally, Treasurer of the State of North Carolina lifted its position in IDEX by 0.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 35,567 shares of the industrial products company’s stock valued at $7,722,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX stock opened at $209.04 on Thursday. The company’s fifty day moving average price is $201.10 and its 200-day moving average price is $213.06. The stock has a market cap of $15.82 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $828.15 million. During the same quarter in the prior year, the company earned $2.18 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. On average, equities analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, October 11th. IDEX’s dividend payout ratio (DPR) is 36.32%.

Analysts Set New Price Targets

IEX has been the subject of several research reports. Royal Bank of Canada cut their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Robert W. Baird decreased their price target on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus cut their price objective 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. Finally, TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Four 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.50.

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.