Arrowstreet Capital Limited Partnership Has $19.52 Million Stock Holdings in IDEX Corporation $IEX

Arrowstreet Capital Limited Partnership boosted its stake in IDEX Corporation (NYSE:IEX) by 340.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 111,163 shares of the industrial products company’s stock after buying an additional 85,934 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.15% of IDEX worth $19,517,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC increased its stake in shares of IDEX by 1.9% during the first quarter. LPL Financial LLC now owns 20,068 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 366 shares during the period. Federated Hermes Inc. grew its holdings in IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock valued at $60,000 after buying an additional 100 shares in the last quarter. Blair William & Co. IL increased its position in IDEX by 14.9% during the 1st quarter. Blair William & Co. IL now owns 4,091 shares of the industrial products company’s stock worth $740,000 after buying an additional 529 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of IDEX by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 648,477 shares of the industrial products company’s stock worth $117,355,000 after buying an additional 8,294 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of IDEX by 1.5% in the first quarter. Deutsche Bank AG now owns 470,495 shares of the industrial products company’s stock valued at $85,145,000 after acquiring an additional 7,144 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on IEX shares. Royal Bank Of Canada dropped their price objective on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of IDEX in a research report on Wednesday. Stifel Nicolaus reduced their price target on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Finally, Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.86.

IDEX Stock Performance

NYSE:IEX opened at $177.34 on Monday. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $231.76. The company has a quick ratio of 2.06, a current ratio of 2.93 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $168.08 and its 200 day simple moving average is $170.76. The firm has a market capitalization of $13.27 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01.

IDEX (NYSE:IEX) last posted its earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. The firm had revenue of $712.00 million during the quarter. On average, analysts anticipate that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 8.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

IDEX Announces Dividend

The business also recently announced 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 dividend payout ratio (DPR) is currently 44.94%.

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.