Mutual of America Capital Management LLC Trims Holdings in IDEX Corporation $IEX

Mutual of America Capital Management LLC lessened its holdings in shares of IDEX Corporation (NYSE:IEX) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,664 shares of the industrial products company’s stock after selling 144 shares during the period. Mutual of America Capital Management LLC’s holdings in IDEX were worth $1,521,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Horizon Investments LLC boosted its position in IDEX by 5.2% during the 1st quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 54 shares in the last quarter. Empowered Funds LLC boosted its position in IDEX by 3.4% during the 1st quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 54 shares in the last quarter. Alps Advisors Inc. boosted its position in IDEX by 1.0% during the 1st quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company’s stock valued at $1,084,000 after acquiring an additional 60 shares in the last quarter. Blue Trust Inc. boosted its position in IDEX by 21.5% during the 2nd quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 79 shares in the last quarter. Finally, Xponance Inc. boosted its position in IDEX by 0.9% during the 1st quarter. Xponance Inc. now owns 10,395 shares of the industrial products company’s stock valued at $1,881,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IEX. Royal Bank Of Canada cut their price objective on IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Saturday. DA Davidson set a $180.00 price objective on IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Stifel Nicolaus cut their price objective on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Finally, Citigroup boosted their price target on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.57.

IDEX Stock Performance

Shares of IEX opened at $167.93 on Monday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $163.90 and its 200-day moving average price is $172.20. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $238.22. The stock has a market cap of $12.64 billion, a P/E ratio of 27.13, a P/E/G ratio of 1.77 and a beta of 1.04.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The firm had revenue of $712.00 million for the quarter. IDEX had a return on equity of 15.16% and a net margin of 14.05%. Equities research analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.84 annualized dividend and a yield of 1.7%. IDEX’s dividend payout ratio is 45.88%.

IDEX declared that its board has initiated a stock repurchase plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.