Capital Fund Management S.A. Invests $3.18 Million in IDEX Corporation $IEX

Capital Fund Management S.A. acquired a new stake in IDEX Corporation (NYSE:IEX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 18,083 shares of the industrial products company’s stock, valued at approximately $3,175,000.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of IDEX by 257.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. American National Bank & Trust bought a new position in shares of IDEX in the 2nd quarter valued at approximately $25,000. Steph & Co. acquired a new stake in IDEX in the 2nd quarter worth approximately $42,000. SVB Wealth LLC acquired a new stake in IDEX in the 1st quarter worth approximately $56,000. Finally, Federated Hermes Inc. boosted its position in IDEX by 42.9% during the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 100 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Trading Up 0.3%

IEX stock opened at $175.10 on Wednesday. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $231.93. The company has a current ratio of 2.93, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $167.01 and its 200-day moving average is $170.93. The firm has a market cap of $13.11 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.83 and a beta of 1.04.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 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 for the quarter. Equities analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

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

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be given a $0.71 dividend. The ex-dividend date is Friday, January 16th. This represents a $2.84 dividend on an annualized basis and a yield of 1.6%. IDEX’s payout ratio is 44.94%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IEX shares. Oppenheimer set a $210.00 price target on shares of IDEX in a research report on Tuesday, October 7th. Royal Bank Of Canada dropped their target price on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Stifel Nicolaus decreased their price target on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.