Fort L.P. Sells 404 Shares of IDEX Co. (NYSE:IEX)

Fort L.P. lessened its position in shares of IDEX Co. (NYSE:IEXGet Rating) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,818 shares of the industrial products company’s stock after selling 404 shares during the period. Fort L.P.’s holdings in IDEX were worth $1,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IEX. Kentucky Retirement Systems raised its position in shares of IDEX by 3.5% in the fourth quarter. Kentucky Retirement Systems now owns 4,565 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 155 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of IDEX by 131.0% in the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 145,177 shares of the industrial products company’s stock worth $34,308,000 after purchasing an additional 82,342 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of IDEX by 22.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,328 shares of the industrial products company’s stock worth $314,000 after purchasing an additional 242 shares during the period. UBS Asset Management Americas Inc. lifted its position in IDEX by 1.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 419,827 shares of the industrial products company’s stock valued at $86,883,000 after acquiring an additional 6,596 shares during the period. Finally, Argent Trust Co bought a new stake in IDEX during the 4th quarter valued at about $257,000. 96.95% of the stock is owned by institutional investors and hedge funds.

NYSE IEX traded up $2.95 on Tuesday, hitting $188.42. 2,302 shares of the company were exchanged, compared to its average volume of 452,528. The firm has a market capitalization of $14.32 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.04. IDEX Co. has a twelve month low of $180.69 and a twelve month high of $240.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.59 and a quick ratio of 2.68. The company’s 50 day moving average price is $192.58 and its 200-day moving average price is $209.88.

IDEX (NYSE:IEXGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.22. The company had revenue of $751.10 million during the quarter, compared to analysts’ expectations of $721.21 million. IDEX had a return on equity of 18.61% and a net margin of 16.65%. During the same period in the prior year, the business earned $1.51 earnings per share. As a group, equities analysts expect that IDEX Co. will post 7.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Tuesday, May 17th will be paid a $0.60 dividend. The ex-dividend date is Monday, May 16th. This is a positive change from IDEX’s previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.27%. IDEX’s dividend payout ratio (DPR) is 34.67%.

Several brokerages have weighed in on IEX. Robert W. Baird lowered their price target on shares of IDEX from $251.00 to $233.00 in a report on Thursday, February 3rd. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Loop Capital lowered their price objective on shares of IDEX from $225.00 to $210.00 in a research note on Monday, April 4th. DA Davidson reaffirmed a “neutral” rating on shares of IDEX in a report on Thursday, April 28th. Finally, Citigroup boosted their target price on shares of IDEX from $232.00 to $235.00 in a research note on Thursday, April 28th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $225.10.

IDEX Profile (Get Rating)

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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

See Also

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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