King Luther Capital Management Corp Boosts Stake in IDEX Co. (NYSE:IEX)

King Luther Capital Management Corp lifted its holdings in IDEX Co. (NYSE:IEX) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 743,768 shares of the industrial products company’s stock after buying an additional 1,044 shares during the quarter. King Luther Capital Management Corp’s holdings in IDEX were worth $155,663,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Assetmark Inc. purchased a new stake in IDEX during the third quarter worth $39,000. Brooklyn Investment Group purchased a new stake in IDEX during the third quarter worth $86,000. Jones Financial Companies Lllp boosted its position in IDEX by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 106 shares in the last quarter. Fred Alger Management LLC purchased a new stake in IDEX during the third quarter worth $89,000. Finally, Millburn Ridgefield Corp boosted its position in IDEX by 475.0% during the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 380 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Performance

Shares of NYSE:IEX opened at $186.39 on Tuesday. The firm has a market capitalization of $14.13 billion, a PE ratio of 28.03, a P/E/G ratio of 1.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The business has a 50-day moving average of $204.73 and a two-hundred day moving average of $211.26. IDEX Co. has a 12 month low of $183.24 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on IEX shares. Royal Bank of Canada decreased their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus upped their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. DA Davidson reduced their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup reduced their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and a consensus target price of $241.71.

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.