IDEX Co. (NYSE:IEX) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in shares of IDEX Co. (NYSE:IEX) by 73.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,904 shares of the industrial products company’s stock after acquiring an additional 1,230 shares during the quarter. Public Sector Pension Investment Board’s holdings in IDEX were worth $584,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Riverview Trust Co acquired a new position in IDEX during the first quarter worth approximately $35,000. Quarry LP purchased a new position in shares of IDEX in the 4th quarter worth $36,000. EdgeRock Capital LLC acquired a new position in IDEX in the second quarter valued at $41,000. Whittier Trust Co. grew 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 acquiring an additional 58 shares during the period. Finally, UMB Bank n.a. increased its stake in IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 57 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IEX. Royal Bank of Canada decreased their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Stifel Nicolaus dropped their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Robert W. Baird lowered their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. 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 Performance

Shares of IEX stock opened at $211.32 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The company’s fifty day moving average price is $202.09 and its two-hundred day moving average price is $212.12. The firm has a market capitalization of $16.00 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.22 and a beta of 0.95. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36.

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

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.69 dividend. The ex-dividend date is Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.31%. IDEX’s dividend payout ratio is presently 36.32%.

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.