M&T Bank Corp Buys 1,401 Shares of IDEX Co. (NYSE:IEX)

M&T Bank Corp increased its stake in IDEX Co. (NYSE:IEX) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,934 shares of the industrial products company’s stock after acquiring an additional 1,401 shares during the period. M&T Bank Corp’s holdings in IDEX were worth $4,490,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its position in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. purchased a new position in IDEX during the 3rd quarter valued at $39,000. EdgeRock Capital LLC bought a new position in IDEX in the 2nd quarter worth $41,000. Whittier Trust Co. lifted its position in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Trading Down 1.4 %

IDEX stock opened at $224.98 on Friday. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. The business’s fifty day simple moving average is $220.65 and its two-hundred day simple moving average is $208.82. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. IDEX’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 EPS. As a group, equities analysts predict that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.23%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Analyst Ratings Changes

IEX has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus lifted their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird decreased their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Citigroup boosted their target price on shares of IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.14.

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.