IDEX Corporation $IEX Shares Purchased by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. grew its stake in shares of IDEX Corporation (NYSE:IEX) by 15.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,200 shares of the industrial products company’s stock after purchasing an additional 47,152 shares during the quarter. IDEX accounts for 1.1% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 20th biggest position. Deprince Race & Zollo Inc. owned 0.46% of IDEX worth $56,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of IDEX by 257.5% during 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 period. American National Bank & Trust acquired a new stake in IDEX in the second quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new stake in shares of IDEX during the second quarter valued at approximately $28,000. Loomis Sayles & Co. L P acquired a new position in shares of IDEX during the second quarter worth $33,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of IDEX in the second quarter valued at $35,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 0.0%

NYSE:IEX opened at $180.24 on Friday. 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 business’s 50 day moving average is $172.22 and its two-hundred day moving average is $170.50. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $226.04. The company has a market cap of $13.49 billion, a PE ratio of 28.52, a P/E/G ratio of 1.90 and a beta of 1.01.

IDEX (NYSE:IEX) last posted 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 for the quarter. On average, analysts predict that IDEX Corporation will post 8.26 EPS for the current year.

IDEX announced that its board has authorized a stock repurchase program on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 8.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be given 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 is Friday, January 16th. IDEX’s dividend payout ratio (DPR) is presently 44.94%.

Wall Street Analyst Weigh In

IEX has been the topic of several analyst reports. Royal Bank Of Canada dropped their price target on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Cowen reiterated a “buy” rating on shares of IDEX in a research note on Wednesday, December 3rd. Stifel Nicolaus lowered their price objective on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Finally, Citigroup lifted their price objective on IDEX from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, IDEX presently has an average rating of “Moderate Buy” and a consensus price target of $196.86.

IDEX 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.