Oak Thistle LLC Makes New $297,000 Investment in IDEX Co. (NYSE:IEX)

Oak Thistle LLC purchased a new position in shares of IDEX Co. (NYSE:IEX) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,418 shares of the industrial products company’s stock, valued at approximately $297,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position in IDEX by 108.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after purchasing an additional 1,472,456 shares during the last quarter. Van ECK Associates Corp raised its position in shares of IDEX by 9,424.6% during the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after acquiring an additional 1,021,439 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after acquiring an additional 273,460 shares during the period. DF Dent & Co. Inc. bought a new stake in IDEX in the third quarter valued at approximately $31,747,000. Finally, D. E. Shaw & Co. Inc. increased its position in IDEX by 247.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after purchasing an additional 141,064 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX opened at $215.67 on Friday. IDEX Co. has a one year low of $189.51 and a one year high of $246.36. The company has a market cap of $16.33 billion, a PE ratio of 33.39, a P/E/G ratio of 2.03 and a beta of 0.97. The stock has a 50-day moving average of $220.31 and a 200-day moving average of $210.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS 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 during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter last year, the firm posted $2.12 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts predict that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is 42.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IEX shares. Royal Bank of Canada upped their price objective on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird cut their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup decreased their price target on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus boosted their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.86.

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.