Quarry LP Boosts Holdings in IDEX Co. (NYSE:IEX)

Quarry LP lifted its stake in IDEX Co. (NYSE:IEX) by 271.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,071 shares of the industrial products company’s stock after purchasing an additional 783 shares during the period. Quarry LP’s holdings in IDEX were worth $215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Riverview Trust Co purchased a new position in IDEX during the 1st quarter valued at about $35,000. EdgeRock Capital LLC purchased a new position in IDEX during the 2nd quarter valued at about $41,000. Whittier Trust Co. lifted its position in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the period. UMB Bank n.a. lifted its position in IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares during the period. Finally, Mascoma Wealth Management LLC purchased a new position in IDEX during the 2nd quarter valued at about $51,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Performance

Shares of IEX stock opened at $214.45 on Tuesday. The company has a 50 day moving average price of $201.67 and a 200-day moving average price of $212.32. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The firm has a market capitalization of $16.23 billion, a PE ratio of 28.22, a P/E/G ratio of 2.22 and a beta of 0.95. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $828.15 million. During the same period in the previous year, the business posted $2.18 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird lowered their price target on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus lowered their price target 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. TD Cowen reduced their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. DA Davidson reduced their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Finally, Oppenheimer reduced their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $233.50.

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.