Macquarie Group Ltd. grew its position in IDEX Co. (NYSE:IEX – Get Rating) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,430 shares of the industrial products company’s stock after buying an additional 2,549 shares during the period. Macquarie Group Ltd. owned 0.63% of IDEX worth $108,554,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Wallace Advisory Group LLC purchased a new stake in shares of IDEX in the 4th quarter valued at approximately $234,000. GHP Investment Advisors Inc. grew its stake in shares of IDEX by 14.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 22,251 shares of the industrial products company’s stock valued at $5,081,000 after buying an additional 2,744 shares during the period. American Trust purchased a new stake in shares of IDEX in the 4th quarter valued at approximately $267,000. Alliancebernstein L.P. grew its stake in shares of IDEX by 1.8% in the 4th quarter. Alliancebernstein L.P. now owns 2,736,556 shares of the industrial products company’s stock valued at $624,838,000 after buying an additional 48,631 shares during the period. Finally, Port Capital LLC grew its stake in shares of IDEX by 1.2% in the 4th quarter. Port Capital LLC now owns 300,755 shares of the industrial products company’s stock valued at $68,671,000 after buying an additional 3,585 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.
IDEX Price Performance
Shares of IEX opened at $209.75 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.10 and a quick ratio of 2.09. IDEX Co. has a 1-year low of $172.18 and a 1-year high of $246.23. The stock has a market cap of $15.85 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.00. The firm has a fifty day moving average price of $209.53 and a 200 day moving average price of $221.86.
IDEX (NYSE:IEX – Get Rating) last posted its earnings results on Wednesday, April 26th. The industrial products company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.07. The business had revenue of $845.40 million for the quarter, compared to analysts’ expectations of $818.87 million. IDEX had a return on equity of 21.14% and a net margin of 17.91%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 earnings per share. As a group, sell-side analysts anticipate that IDEX Co. will post 8.51 EPS for the current year.
IDEX Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from IDEX’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, June 8th. IDEX’s payout ratio is presently 33.16%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on IEX shares. Robert W. Baird lowered their price objective on shares of IDEX from $255.00 to $230.00 in a research report on Friday, April 28th. Stifel Nicolaus increased their price objective on shares of IDEX from $242.00 to $246.00 and gave the stock a “hold” rating in a research report on Monday, April 17th. Mizuho lowered their price objective on shares of IDEX from $227.00 to $200.00 in a research report on Friday, April 28th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Friday, May 19th. Finally, Sanford C. Bernstein reduced their target price on shares of IDEX from $225.00 to $220.00 in a report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $236.17.
IDEX Company Profile
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IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.
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