IDEX Co. (NYSE:IEX) is Mountain Pacific Investment Advisers LLC's 8th Largest Position

Mountain Pacific Investment Advisers LLC reduced its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 242,135 shares of the industrial products company's stock after selling 2,024 shares during the quarter. IDEX makes up 3.3% of Mountain Pacific Investment Advisers LLC's investment portfolio, making the stock its 8th biggest holding. Mountain Pacific Investment Advisers LLC owned about 0.32% of IDEX worth $43,819,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IEX. Empowered Funds LLC increased its stake in IDEX by 22.9% in the fourth quarter. Empowered Funds LLC now owns 1,592 shares of the industrial products company's stock valued at $333,000 after purchasing an additional 297 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of IDEX by 4.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company's stock valued at $6,386,000 after buying an additional 1,209 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of IDEX by 69.9% in the 4th quarter. Vontobel Holding Ltd. now owns 28,975 shares of the industrial products company's stock valued at $6,064,000 after buying an additional 11,925 shares during the last quarter. Handelsbanken Fonder AB raised its stake in IDEX by 6.1% during the 4th quarter. Handelsbanken Fonder AB now owns 20,800 shares of the industrial products company's stock worth $4,353,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Boston Financial Mangement LLC purchased a new stake in IDEX in the fourth quarter valued at $226,000. Hedge funds and other institutional investors own 97.96% of the company's stock.

Insiders Place Their Bets

In other news, CFO Akhil Mahendra sold 250 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the sale, the chief financial officer now directly owns 5,035 shares of the company's stock, valued at $910,781.15. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

IDEX Stock Down 2.6%

IDEX stock opened at $177.69 on Monday. The stock has a 50 day moving average of $177.89 and a two-hundred day moving average of $194.13. IDEX Co. has a twelve month low of $153.36 and a twelve month high of $238.22. The stock has a market capitalization of $13.42 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.98 and a beta of 1.06. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. The firm had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. As a group, research analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, May 19th. This is a positive change from IDEX's previous quarterly dividend of $0.69. IDEX's payout ratio is currently 45.01%.

Analysts Set New Price Targets

IEX has been the topic of a number of research analyst reports. Mizuho set a $185.00 target price on IDEX in a research report on Friday, May 16th. DA Davidson dropped their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus boosted their price objective on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Royal Bank of Canada increased their price objective on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Citigroup cut their target price on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, IDEX has a consensus rating of "Moderate Buy" and an average price target of $212.50.

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.

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.