ProShare Advisors LLC lifted its position in shares of IDEX Co. (NYSE:IEX – Free Report) by 70.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,956 shares of the industrial products company’s stock after purchasing an additional 6,601 shares during the period. ProShare Advisors LLC’s holdings in IDEX were worth $3,686,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in IDEX by 90.0% during the first quarter. EverSource Wealth Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 54 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of IDEX by 120.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 77 shares during the last quarter. Clear Street Markets LLC lifted its holdings in shares of IDEX by 94.7% in the 1st quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 72 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of IDEX by 910.7% in the 1st quarter. Clearstead Advisors LLC now owns 283 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 255 shares during the last quarter. Finally, Covington Capital Management increased its stake in shares of IDEX by 120.7% in the third quarter. Covington Capital Management now owns 331 shares of the industrial products company’s stock worth $66,000 after buying an additional 181 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently commented on IEX shares. Citigroup lifted their target price on shares of IDEX from $243.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Stifel Nicolaus upped their price target on shares of IDEX from $214.00 to $220.00 and gave the company a “hold” rating in a research report on Wednesday, July 19th. Argus increased their target price on shares of IDEX from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of IDEX in a report on Monday, July 31st. Finally, StockNews.com initiated coverage on shares of IDEX in a report on Thursday, August 17th. They set a “hold” rating for the company. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.92.
IDEX Stock Performance
IEX stock opened at $212.27 on Tuesday. The company has a market capitalization of $16.05 billion, a P/E ratio of 27.46, a PEG ratio of 2.26 and a beta of 0.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.06 and a quick ratio of 2.07. The business has a 50-day moving average price of $219.28 and a 200 day moving average price of $215.27. IDEX Co. has a 1-year low of $195.27 and a 1-year high of $246.23.
IDEX (NYSE:IEX – Get Free Report) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.07. The business had revenue of $846.20 million during the quarter, compared to the consensus estimate of $852.28 million. IDEX had a net margin of 17.65% and a return on equity of 20.69%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 earnings per share. As a group, equities research analysts forecast that IDEX Co. will post 7.97 EPS for the current fiscal year.
IDEX Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a yield of 1.21%. IDEX’s dividend payout ratio is currently 33.12%.
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.
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