MML Investors Services LLC Sells 96 Shares of IDEX Co. (NYSE:IEX)

MML Investors Services LLC lessened its position in IDEX Co. (NYSE:IEX) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,379 shares of the industrial products company’s stock after selling 96 shares during the quarter. MML Investors Services LLC’s holdings in IDEX were worth $725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC increased its stake in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the period. Assetmark Inc. acquired a new position in shares of IDEX during the third quarter worth approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after buying an additional 100 shares during the last quarter. Whittier Trust Co. grew its stake 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 acquiring an additional 58 shares during the last quarter. Finally, UMB Bank n.a. increased its position 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 period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Up 1.0 %

IEX stock opened at $212.38 on Friday. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $221.61 and its 200-day moving average is $209.16. The firm has a market cap of $16.08 billion, a P/E ratio of 32.88, a P/E/G ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same period in the prior year, the business posted $2.12 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.30%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IEX. Citigroup increased their price target on shares of IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada lifted their target price on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus boosted their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird reduced their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

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.