Retirement Systems of Alabama Has $3.55 Million Stake in IDEX Co. (NYSE:IEX)

Retirement Systems of Alabama reduced its stake in shares of IDEX Co. (NYSE:IEX) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,552 shares of the industrial products company’s stock after selling 144 shares during the quarter. Retirement Systems of Alabama’s holdings in IDEX were worth $3,550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IEX. Catalyst Capital Advisors LLC grew its holdings in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. bought a new stake in IDEX during the third quarter worth about $39,000. Whittier Trust Co. increased its holdings in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 57 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

Shares of IEX stock opened at $210.26 on Friday. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 32.55, a PEG 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 quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $221.59 and a 200 day moving average price of $209.12.

IDEX (NYSE:IEX) last issued 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. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the previous year, the company earned $2.12 EPS. IDEX’s revenue was up .6% on a year-over-year basis. Research analysts expect that IDEX Co. will post 7.89 EPS for the current year.

IDEX Announces Dividend

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

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of recent analyst reports. Citigroup raised their price target on IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada raised their target price on IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.14.

IDEX 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.