IDEX Co. (NYSE:IEX) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC raised its stake in IDEX Co. (NYSE:IEX) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,428 shares of the industrial products company’s stock after purchasing an additional 460 shares during the period. Tidal Investments LLC’s holdings in IDEX were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC raised its holdings 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 acquiring an additional 59 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of IDEX in the 3rd quarter valued at approximately $39,000. Whittier Trust Co. raised its holdings 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 valued at $42,000 after purchasing an additional 58 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position 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 worth $43,000 after purchasing an additional 100 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX opened at $210.26 on Friday. The company’s 50 day simple moving average is $221.59 and its 200-day simple moving average is $209.12. The firm has a market cap of $15.92 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. 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 posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same period in the previous year, the business posted $2.12 earnings per share. IDEX’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that IDEX Co. will post 7.89 EPS for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.31%. IDEX’s payout ratio is 42.72%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IEX shares. Citigroup lifted their price target on IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus boosted their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird dropped their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.