UMB Bank n.a. Sells 116 Shares of IDEX Co. (NYSE:IEX)

UMB Bank n.a. lowered its position in shares of IDEX Co. (NYSE:IEX) by 48.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 125 shares of the industrial products company’s stock after selling 116 shares during the quarter. UMB Bank n.a.’s holdings in IDEX were worth $27,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IEX. Mountain Pacific Investment Advisers LLC grew its stake in shares of IDEX by 1.5% in the third quarter. Mountain Pacific Investment Advisers LLC now owns 244,409 shares of the industrial products company’s stock worth $52,426,000 after purchasing an additional 3,564 shares during the last quarter. CWM LLC grew its position in shares of IDEX by 10.4% in the 3rd quarter. CWM LLC now owns 2,064 shares of the industrial products company’s stock worth $443,000 after buying an additional 195 shares during the last quarter. Diversified Trust Co increased its stake in shares of IDEX by 28.2% during the third quarter. Diversified Trust Co now owns 6,151 shares of the industrial products company’s stock valued at $1,319,000 after buying an additional 1,354 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in IDEX in the third quarter worth $376,000. Finally, Czech National Bank boosted its holdings in IDEX by 6.9% in the third quarter. Czech National Bank now owns 15,421 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 997 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IEX. DA Davidson dropped their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Robert W. Baird dropped their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus decreased their price objective on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Oppenheimer dropped their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $238.29.

IDEX Trading Down 0.7 %

NYSE IEX opened at $211.76 on Wednesday. The stock’s fifty day moving average price is $203.78 and its 200-day moving average price is $209.83. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. The stock has a market cap of $16.03 billion, a P/E ratio of 27.86, a P/E/G ratio of 2.20 and a beta of 0.95. 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 EPS for the quarter, beating the consensus estimate of $2.04 by $0.02. The company had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. As a group, equities analysts forecast that IDEX Co. will post 7.88 EPS for the current fiscal 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. 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 is 36.32%.

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.