Millennium Management LLC Has $27.92 Million Stock Position in IDEX Co. (NYSE:IEX)

Millennium Management LLC boosted its stake in shares of IDEX Co. (NYSE:IEX) by 1,541.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 138,744 shares of the industrial products company’s stock after purchasing an additional 130,292 shares during the period. Millennium Management LLC owned 0.18% of IDEX worth $27,915,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in IDEX during the first quarter worth $35,000. Quarry LP acquired a new position in shares of IDEX in the fourth quarter valued at $36,000. EdgeRock Capital LLC acquired a new stake in IDEX during the second quarter worth approximately $41,000. Whittier Trust Co. increased its stake in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the period. Finally, UMB Bank n.a. grew its holdings in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Down 0.2 %

NYSE:IEX opened at $210.85 on Friday. The stock’s fifty day moving average price is $202.09 and its two-hundred day moving average price is $212.12. The company has a market cap of $15.96 billion, a P/E ratio of 27.74, a P/E/G ratio of 2.22 and a beta of 0.95. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. As a group, analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

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 paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, October 11th. IDEX’s dividend payout ratio is 36.32%.

Analyst Ratings Changes

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

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.