Texas Permanent School Fund Corp Decreases Stock Holdings in IDEX Co. (NYSE:IEX)

Texas Permanent School Fund Corp lessened its holdings in IDEX Co. (NYSE:IEX) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,516 shares of the industrial products company’s stock after selling 3,121 shares during the quarter. Texas Permanent School Fund Corp’s holdings in IDEX were worth $2,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in shares of IDEX in the first quarter valued at $35,000. Quarry LP bought a new position in IDEX in the 4th quarter worth about $36,000. EdgeRock Capital LLC bought a new stake in shares of IDEX during the second quarter valued at about $41,000. Whittier Trust Co. lifted its holdings in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares during the period. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Performance

Shares of IEX stock opened at $202.68 on Tuesday. The company has a market capitalization of $15.34 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The company’s 50-day moving average is $200.46 and its 200 day moving average is $214.32.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. During the same quarter last year, the firm posted $2.18 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.36%. IDEX’s dividend payout ratio is presently 36.32%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen decreased their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report 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 lowered their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Oppenheimer reduced their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.50.

IDEX 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.