Asset Management One Co. Ltd. Has $5.85 Million Stake in IDEX Corporation $IEX

Asset Management One Co. Ltd. decreased its position in IDEX Corporation (NYSE:IEX) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,332 shares of the industrial products company’s stock after selling 1,237 shares during the quarter. Asset Management One Co. Ltd.’s holdings in IDEX were worth $5,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of IDEX by 257.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. American National Bank & Trust acquired a new stake in shares of IDEX in the 2nd quarter valued at about $25,000. Steph & Co. acquired a new stake in shares of IDEX in the 2nd quarter valued at about $42,000. SVB Wealth LLC acquired a new stake in shares of IDEX in the 1st quarter valued at about $56,000. Finally, Federated Hermes Inc. increased its position in shares of IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Down 0.4%

IDEX stock opened at $166.90 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 3.05. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $238.22. The stock has a 50-day simple moving average of $164.00 and a 200 day simple moving average of $172.16. The stock has a market capitalization of $12.57 billion, a P/E ratio of 26.96, a PEG ratio of 1.77 and a beta of 1.04.

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

IDEX announced that its board has authorized a share repurchase plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

IDEX Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank Of Canada lowered their target price on IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. DA Davidson set a $180.00 target price on IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Stifel Nicolaus lowered their target price on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Finally, Citigroup lifted their target price on IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.57.

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.