MQS Management LLC Makes New $651,000 Investment in IDEX Co. (NYSE:IEX)

MQS Management LLC purchased a new stake in shares of IDEX Co. (NYSE:IEX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,234 shares of the industrial products company’s stock, valued at approximately $651,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of IDEX during the 4th quarter valued at $237,425,000. Price T Rowe Associates Inc. MD boosted its holdings in IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after buying an additional 555,250 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in IDEX by 4,080.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock valued at $68,113,000 after purchasing an additional 306,221 shares during the period. Maren Capital LLC purchased a new stake in IDEX in the 4th quarter worth $49,789,000. Finally, Hsbc Holdings PLC increased its stake in shares of IDEX by 75.6% during the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after purchasing an additional 223,422 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus cut their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Oppenheimer lowered their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird reduced their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Four equities 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, IDEX currently has an average rating of “Moderate Buy” and an average price target of $233.50.

IDEX Stock Up 0.4 %

Shares of IDEX stock opened at $205.60 on Thursday. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a fifty day moving average price of $200.65 and a 200 day moving average price of $214.08. 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 stock has a market cap of $15.56 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95.

IDEX (NYSE:IEX) last issued its quarterly earnings results 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 business had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts forecast that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

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.