Caxton Associates LLP Makes New $2.43 Million Investment in IDEX Corporation $IEX

Caxton Associates LLP bought a new position in IDEX Corporation (NYSE:IEX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,843 shares of the industrial products company’s stock, valued at approximately $2,430,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in IDEX in the first quarter worth $27,794,000. Public Sector Pension Investment Board lifted its position in shares of IDEX by 7.9% in the 1st quarter. Public Sector Pension Investment Board now owns 10,280 shares of the industrial products company’s stock worth $1,860,000 after buying an additional 753 shares during the last quarter. Horizon Investments LLC boosted its holdings in shares of IDEX by 5.2% in the 1st quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company’s stock valued at $197,000 after buying an additional 54 shares during the period. Dimensional Fund Advisors LP grew its position in shares of IDEX by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 685,206 shares of the industrial products company’s stock valued at $123,996,000 after buying an additional 44,489 shares during the last quarter. Finally, Aberdeen Group plc grew its position in shares of IDEX by 15.1% during the 1st quarter. Aberdeen Group plc now owns 57,806 shares of the industrial products company’s stock valued at $10,349,000 after buying an additional 7,603 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IEX shares. Royal Bank Of Canada decreased their target price on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Citigroup raised their price target on IDEX from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Cowen restated a “buy” rating on shares of IDEX in a research note on Wednesday, December 3rd. Stifel Nicolaus dropped 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. Finally, Oppenheimer set a $210.00 price target on shares of IDEX in a report on Tuesday, October 7th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.86.

IDEX Stock Down 1.3%

Shares of IDEX stock opened at $178.91 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.93 and a quick ratio of 2.06. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $226.04. The business’s fifty day moving average price is $169.38 and its two-hundred day moving average price is $170.63. The company has a market capitalization of $13.39 billion, a P/E ratio of 28.31, a PEG ratio of 1.89 and a beta of 1.01.

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 company had revenue of $712.00 million for the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. As a group, research analysts forecast that IDEX Corporation will post 8.26 EPS for the current year.

IDEX announced that its Board of Directors has approved a stock buyback program 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 buy up to 8.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

IDEX Dividend Announcement

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

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.