Allstate Corp Invests $489,000 in IDEX Co. (NYSE:IEX)

Allstate Corp acquired a new stake in IDEX Co. (NYSE:IEX) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,338 shares of the industrial products company’s stock, valued at approximately $489,000.

A number of other large investors have also bought and sold shares of IEX. Asset Management One Co. Ltd. boosted its holdings in shares of IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock valued at $6,386,000 after buying an additional 1,209 shares during the period. Assetmark Inc. lifted its position in IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 235 shares in the last quarter. Covea Finance boosted its stake in IDEX by 70.6% in the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock worth $3,035,000 after purchasing an additional 6,000 shares during the period. Barclays PLC increased its holdings in IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after purchasing an additional 14,360 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock valued at $488,000 after purchasing an additional 495 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

Shares of IEX opened at $181.18 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $195.70 and its 200 day simple moving average is $209.23. IDEX Co. has a 1-year low of $176.39 and a 1-year high of $242.09. The company has a market cap of $13.69 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last released its quarterly earnings data 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 net margin of 15.45% and a return on equity of 16.08%. On average, research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IEX shares. DA Davidson decreased their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Citigroup decreased their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus raised their target price 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX Company 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.