Eventide Asset Management LLC Acquires 4,580 Shares of IDEX Co. (NYSE:IEX)

Eventide Asset Management LLC boosted its position in IDEX Co. (NYSE:IEX) by 6.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,587 shares of the industrial products company’s stock after buying an additional 4,580 shares during the period. Eventide Asset Management LLC owned approximately 0.09% of IDEX worth $15,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after purchasing an additional 1,021,439 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after purchasing an additional 273,460 shares during the last quarter. Hsbc Holdings PLC lifted its stake in IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after purchasing an additional 223,422 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in IDEX by 247.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after purchasing an additional 141,064 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of IDEX by 1,541.6% during the second quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock worth $27,915,000 after acquiring an additional 130,292 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

Shares of NYSE IEX opened at $231.10 on Friday. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a 50 day simple moving average of $216.81 and a two-hundred day simple moving average of $208.07. The company has a market capitalization of $17.50 billion, a price-to-earnings ratio of 35.77, a P/E/G ratio of 2.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.01. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 earnings per share. Analysts expect that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Argus cut IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. TD Cowen cut their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. DA Davidson dropped their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Finally, Royal Bank of Canada increased their target price on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.14.

About IDEX

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.