1,157 Shares in IDEX Co. (NYSE:IEX) Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC bought a new stake in shares of IDEX Co. (NYSE:IEX) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,157 shares of the industrial products company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IEX. EdgeRock Capital LLC bought a new position in shares of IDEX in the second quarter valued at approximately $41,000. Whittier Trust Co. raised 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 buying an additional 58 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after buying an additional 57 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new stake in IDEX during the second quarter valued at $51,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Trading Down 0.3 %

NYSE IEX opened at $202.82 on Monday. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The stock has a 50-day simple moving average of $205.96 and a 200 day simple moving average of $208.04. 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 company has a market capitalization of $15.35 billion, a PE ratio of 26.55, a P/E/G ratio of 2.20 and a beta of 0.95.

IDEX (NYSE:IEX) last announced 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 company had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. IDEX’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 EPS. Research analysts forecast that IDEX Co. will post 7.87 EPS for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.36%. IDEX’s dividend payout ratio is presently 36.13%.

Wall Street Analysts Forecast Growth

IEX has been the subject of several analyst reports. TD Cowen reduced their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note 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 cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada dropped their price target on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $239.43.

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.