MBB Public Markets I LLC Makes New Investment in IDEX Co. (NYSE:IEX)

MBB Public Markets I LLC acquired a new position in IDEX Co. (NYSE:IEX) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,385 shares of the industrial products company’s stock, valued at approximately $882,000.

A number of other institutional investors have also recently added to or reduced their stakes in IEX. D. E. Shaw & Co. Inc. raised its stake in shares of IDEX by 247.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after purchasing an additional 141,064 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of IDEX by 173.5% in the 2nd quarter. APG Asset Management N.V. now owns 8,039 shares of the industrial products company’s stock valued at $1,509,000 after purchasing an additional 5,100 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of IDEX by 1.2% in the 2nd quarter. AQR Capital Management LLC now owns 25,227 shares of the industrial products company’s stock valued at $5,076,000 after purchasing an additional 288 shares in the last quarter. AXA S.A. raised its stake in shares of IDEX by 45.2% in the 2nd quarter. AXA S.A. now owns 241,702 shares of the industrial products company’s stock valued at $48,630,000 after purchasing an additional 75,293 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of IDEX by 60.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,487 shares of the industrial products company’s stock valued at $2,915,000 after purchasing an additional 5,458 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Price Performance

NYSE IEX opened at $214.45 on Tuesday. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. 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 $16.23 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. The company has a 50-day moving average price of $201.67 and a two-hundred day moving average price of $212.32.

IDEX (NYSE:IEX) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same quarter in the prior year, the firm earned $2.18 EPS. IDEX’s quarterly revenue was down 4.6% on a year-over-year basis. Analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, October 11th. IDEX’s dividend payout ratio (DPR) is 36.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird cut their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. DA Davidson lowered their price objective 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. Stifel Nicolaus lowered their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Oppenheimer lowered their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $233.50.

IDEX 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.