KBC Group NV Lowers Stock Position in IDEX Co. (NYSE:IEX)

KBC Group NV lessened its stake in IDEX Co. (NYSE:IEXFree Report) by 45.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,136 shares of the industrial products company’s stock after selling 15,744 shares during the period. KBC Group NV’s holdings in IDEX were worth $4,154,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new position in IDEX in the fourth quarter valued at $1,130,000. California State Teachers Retirement System boosted its holdings in shares of IDEX by 2.0% in the 4th quarter. California State Teachers Retirement System now owns 117,252 shares of the industrial products company’s stock worth $25,457,000 after purchasing an additional 2,267 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of IDEX by 78.7% during the 4th quarter. Eagle Asset Management Inc. now owns 14,695 shares of the industrial products company’s stock valued at $3,190,000 after purchasing an additional 6,471 shares during the last quarter. Peterson Financial Group Inc. raised its holdings in shares of IDEX by 32.5% during the 4th quarter. Peterson Financial Group Inc. now owns 10,970 shares of the industrial products company’s stock valued at $2,382,000 after buying an additional 2,691 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in IDEX by 33.9% in the 4th quarter. Bank of Nova Scotia now owns 9,367 shares of the industrial products company’s stock worth $2,034,000 after buying an additional 2,371 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 2.0 %

Shares of NYSE:IEX opened at $203.40 on Friday. The firm has a market capitalization of $15.40 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.08 and a beta of 0.99. The stock has a 50 day moving average price of $223.86 and a 200-day moving average price of $221.01. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37.

IDEX (NYSE:IEXGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. The company had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. IDEX’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the business earned $2.09 EPS. As a group, equities research analysts anticipate that IDEX Co. will post 8.31 EPS for the current fiscal year.

IDEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, May 16th. This is a positive change from IDEX’s previous quarterly dividend of $0.64. IDEX’s dividend payout ratio (DPR) is 36.32%.

Wall Street Analysts Forecast Growth

IEX has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Oppenheimer upped their price target on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Robert W. Baird decreased their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Citigroup increased their target price on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average price target of $250.71.

Get Our Latest Stock Report on IEX

IDEX Company Profile

(Free Report)

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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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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