IDEX Co. (NYSE:IEX) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its holdings in IDEX Co. (NYSE:IEX) by 8.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,804 shares of the industrial products company’s stock after selling 2,909 shares during the quarter. Squarepoint Ops LLC’s holdings in IDEX were worth $5,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in IDEX in the first quarter valued at $35,000. Quarry LP acquired a new position in IDEX in the fourth quarter valued at $36,000. EdgeRock Capital LLC acquired a new position in IDEX in the second quarter valued at $41,000. Whittier Trust Co. grew its position in IDEX by 38.4% during the second 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 during the period. Finally, UMB Bank n.a. grew its position in IDEX by 31.0% during the second 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 Analysts Forecast Growth

A number of equities research analysts have issued reports on IEX shares. Royal Bank of Canada lowered their price target on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Robert W. Baird lowered their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Stifel Nicolaus lowered their price target on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and six have issued 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 price target of $233.50.

IDEX Trading Up 0.7 %

Shares of IEX opened at $214.98 on Monday. The company has a market capitalization of $16.27 billion, a P/E ratio of 28.29, a P/E/G ratio of 2.22 and a beta of 0.95. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. The stock has a 50-day moving average price of $201.48 and a 200 day moving average price of $212.51.

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

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, October 11th. IDEX’s dividend payout ratio is currently 36.32%.

About IDEX

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.