Assenagon Asset Management S.A. Has $8.96 Million Stock Position in IDEX Corporation $IEX

Assenagon Asset Management S.A. grew its position in IDEX Corporation (NYSE:IEX) by 273.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,047 shares of the industrial products company’s stock after acquiring an additional 40,309 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of IDEX worth $8,959,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of IDEX in the second quarter valued at $156,009,000. Millennium Management LLC increased its holdings in IDEX by 1,232.4% in the 1st quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company’s stock valued at $88,182,000 after buying an additional 450,704 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of IDEX by 142.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 652,664 shares of the industrial products company’s stock valued at $114,588,000 after buying an additional 383,221 shares in the last quarter. Flossbach Von Storch SE lifted its holdings in shares of IDEX by 132.8% during the 2nd quarter. Flossbach Von Storch SE now owns 640,792 shares of the industrial products company’s stock worth $112,504,000 after acquiring an additional 365,525 shares during the period. Finally, Amundi boosted its position in shares of IDEX by 23.4% during the 1st quarter. Amundi now owns 1,249,546 shares of the industrial products company’s stock valued at $220,849,000 after acquiring an additional 236,650 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on IEX shares. Stifel Nicolaus dropped their price target 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Oppenheimer set a $210.00 target price on IDEX in a report on Tuesday, October 7th. Royal Bank Of Canada cut their target price on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Finally, Citigroup upped their price target on IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $196.86.

IDEX Stock Up 0.2%

Shares of IEX opened at $177.80 on Friday. The company has a market capitalization of $13.31 billion, a P/E ratio of 28.13, a PEG ratio of 1.88 and a beta of 1.01. IDEX Corporation has a one year low of $153.36 and a one year high of $226.04. The business’s 50 day simple moving average is $170.60 and its 200-day simple moving average is $170.58. 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 (NYSE:IEX) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. The firm had revenue of $712.00 million during the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. As a group, sell-side analysts predict that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX declared that its Board of Directors has authorized a share buyback program on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

IDEX Announces Dividend

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

IDEX Company Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.