Public Sector Pension Investment Board Purchases 400 Shares of IDEX Co. (NYSE:IEX)

Public Sector Pension Investment Board boosted its position in shares of IDEX Co. (NYSE:IEX) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,304 shares of the industrial products company’s stock after acquiring an additional 400 shares during the quarter. Public Sector Pension Investment Board’s holdings in IDEX were worth $709,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Studio Investment Management LLC increased its position in shares of IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 45 shares during the last quarter. UMB Bank n.a. increased its holdings 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 buying an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 57 shares during the period. Whittier Trust Co. boosted its stake in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its position in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares during the period. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on IEX. Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Argus cut IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Royal Bank of Canada increased their target price on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Stifel Nicolaus lifted their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $242.57.

IDEX Stock Up 0.6 %

Shares of IEX opened at $229.71 on Friday. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $17.39 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. The business’s 50 day moving average is $219.43 and its 200 day moving average is $208.45.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts expect that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.20%. IDEX’s payout ratio is 42.72%.

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.