Lake Street Advisors Group LLC bought a new stake in shares of IDEX Co. (NYSE:IEX – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,157 shares of the industrial products company’s stock, valued at approximately $248,000.
Several other hedge funds and other institutional investors have also made changes to their positions in IEX. EdgeRock Capital LLC bought a new position in shares of IDEX in the second quarter valued at approximately $41,000. Whittier Trust Co. raised its position in IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position 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 worth $43,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after buying an additional 57 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new stake in IDEX during the second quarter valued at $51,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.
IDEX Trading Down 0.3 %
NYSE IEX opened at $202.82 on Monday. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The stock has a 50-day simple moving average of $205.96 and a 200 day simple moving average of $208.04. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $15.35 billion, a PE ratio of 26.55, a P/E/G ratio of 2.20 and a beta of 0.95.
IDEX Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.36%. IDEX’s dividend payout ratio is presently 36.13%.
Wall Street Analysts Forecast Growth
IEX has been the subject of several analyst reports. TD Cowen reduced their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada dropped their price target on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $239.43.
View Our Latest Report on IDEX
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.
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