Maryland State Retirement & Pension System Sells 283 Shares of IDEX Co. (NYSE:IEX)

Maryland State Retirement & Pension System decreased its holdings in IDEX Co. (NYSE:IEX) by 6.5% in the fourth quarter, Holdings Channel reports. The fund owned 4,044 shares of the industrial products company’s stock after selling 283 shares during the quarter. Maryland State Retirement & Pension System’s holdings in IDEX were worth $846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in shares of IDEX in the 3rd quarter valued at approximately $86,000. Jones Financial Companies Lllp lifted its position in IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after buying an additional 106 shares during the last quarter. Fred Alger Management LLC purchased a new position in IDEX during the third quarter worth $89,000. Assetmark Inc. increased its position in IDEX by 129.1% during the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 235 shares during the last quarter. Finally, Millburn Ridgefield Corp raised its stake in shares of IDEX by 475.0% in the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 380 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.9 %

Shares of NYSE IEX opened at $182.02 on Monday. IDEX Co. has a twelve month low of $177.71 and a twelve month high of $245.70. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $200.23 and a two-hundred day simple moving average of $209.94. The firm has a market cap of $13.79 billion, a PE ratio of 27.37, a price-to-earnings-growth 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 analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IEX has been the topic of a number of recent analyst reports. DA Davidson reduced their price objective on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada reduced their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Citigroup dropped their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus increased their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.