Curi RMB Capital LLC Boosts Holdings in IDEX Co. (NYSE:IEX)

Curi RMB Capital LLC increased its holdings in shares of IDEX Co. (NYSE:IEX) by 15.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,435 shares of the industrial products company’s stock after buying an additional 9,180 shares during the period. Curi RMB Capital LLC’s holdings in IDEX were worth $14,465,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in IEX. Huntington National Bank increased its position in shares of IDEX by 22.5% during the third quarter. Huntington National Bank now owns 631 shares of the industrial products company’s stock worth $135,000 after acquiring an additional 116 shares during the period. ICICI Prudential Asset Management Co Ltd purchased a new stake in IDEX during the 3rd quarter worth about $2,218,000. Simmons Bank raised its position in IDEX by 3.8% in the 3rd quarter. Simmons Bank now owns 2,717 shares of the industrial products company’s stock valued at $583,000 after purchasing an additional 100 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of IDEX by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 58,887 shares of the industrial products company’s stock valued at $12,631,000 after buying an additional 690 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of IDEX by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company’s stock worth $36,041,000 after buying an additional 4,465 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Performance

NYSE IEX opened at $231.00 on Thursday. The company has a fifty day moving average of $210.90 and a two-hundred day moving average of $207.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The company has a market capitalization of $17.49 billion, a PE ratio of 35.76, a P/E/G ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 earnings per share. As a group, analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. IDEX’s dividend payout ratio (DPR) is 42.72%.

Analysts Set New Price Targets

IEX has been the topic of several analyst reports. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Oppenheimer lowered their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. TD Cowen cut their price target on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.14.

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.