Assetmark Inc. Invests $39,000 in IDEX Co. (NYSE:IEX)

Assetmark Inc. bought a new position in IDEX Co. (NYSE:IEX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 182 shares of the industrial products company’s stock, valued at approximately $39,000.

Other hedge funds have also made changes to their positions in the company. Blair William & Co. IL grew its position in IDEX by 6.3% during the first quarter. Blair William & Co. IL now owns 3,104 shares of the industrial products company’s stock valued at $757,000 after purchasing an additional 183 shares in the last quarter. Covestor Ltd grew its position in IDEX by 60.6% during the first quarter. Covestor Ltd now owns 546 shares of the industrial products company’s stock worth $133,000 after buying an additional 206 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of IDEX by 33.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,752 shares of the industrial products company’s stock worth $672,000 after purchasing an additional 689 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in shares of IDEX by 418.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,795 shares of the industrial products company’s stock worth $1,170,000 after acquiring an additional 3,871 shares during the period. Finally, Bessemer Group Inc. raised its position in IDEX by 7.5% in the first quarter. Bessemer Group Inc. now owns 1,179 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.5 %

Shares of IEX opened at $226.66 on Tuesday. The firm has a market capitalization of $17.16 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. The stock’s fifty day simple moving average is $212.80 and its 200-day simple moving average is $207.63.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 earnings per share. As a group, research analysts predict that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.22%. IDEX’s dividend payout ratio (DPR) is currently 42.72%.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of recent research reports. TD Cowen decreased their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Oppenheimer cut their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Stifel Nicolaus upped their price objective on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird cut their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.14.

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.