Andra AP fonden Takes Position in IDEX Corporation $IEX

Andra AP fonden acquired a new position in IDEX Corporation (NYSE:IEX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,500 shares of the industrial products company’s stock, valued at approximately $263,000.

Other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its position 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 buying an additional 103 shares during the last quarter. American National Bank & Trust bought a new position in shares of IDEX during the second quarter worth about $25,000. Steph & Co. acquired a new position in shares of IDEX in the second quarter worth approximately $42,000. SVB Wealth LLC bought a new stake in IDEX in the first quarter valued at approximately $56,000. Finally, Federated Hermes Inc. boosted its holdings in 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. 97.96% of the stock is owned by institutional investors.

IDEX Trading Up 0.7%

NYSE:IEX opened at $168.03 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.93 and a quick ratio of 2.13. IDEX Corporation has a one year low of $153.36 and a one year high of $237.38. The company has a market cap of $12.58 billion, a PE ratio of 26.59, a PEG ratio of 1.83 and a beta of 1.04. The firm has a 50-day moving average of $164.65 and a 200-day moving average of $172.38.

IDEX (NYSE:IEX) last released its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%.The business had revenue of $712.00 million during the quarter. As a group, equities research analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX declared that its board has authorized a share repurchase plan on Thursday, September 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, October 10th. IDEX’s payout ratio is currently 44.94%.

Wall Street Analyst Weigh In

IEX has been the subject of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Stifel Nicolaus decreased their price objective on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Oppenheimer set a $210.00 target price on shares of IDEX in a report on Tuesday, October 7th. DA Davidson set a $180.00 price target on shares of IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Finally, Citigroup increased their price target on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Four investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $198.86.

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.