Sanctuary Advisors LLC Reduces Holdings in IDEX Co. (NYSE:IEX)

Sanctuary Advisors LLC reduced its holdings in shares of IDEX Co. (NYSE:IEX) by 31.6% in the third quarter, Holdings Channel reports. The institutional investor owned 2,672 shares of the industrial products company’s stock after selling 1,235 shares during the period. Sanctuary Advisors LLC’s holdings in IDEX were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of IEX. Wellington Management Group LLP increased its stake in shares of IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after purchasing an additional 1,472,456 shares in the last quarter. Van ECK Associates Corp increased its position in IDEX by 9,424.6% in the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after buying an additional 1,021,439 shares in the last quarter. Champlain Investment Partners LLC raised its stake in shares of IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after buying an additional 273,460 shares during the period. Hsbc Holdings PLC lifted its position in shares of IDEX by 75.6% during the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after buying an additional 223,422 shares in the last quarter. Finally, DF Dent & Co. Inc. bought a new position in shares of IDEX during the 3rd quarter valued at approximately $31,747,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 0.7 %

Shares of IDEX stock opened at $212.28 on Wednesday. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 2.41 and a beta of 0.96. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The business has a 50-day moving average price of $221.57 and a 200-day moving average price of $209.32.

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

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.30%. IDEX’s payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

IEX has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada lifted their target price on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird cut their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Citigroup upped their price objective on IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.14.

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.