Worldquant Millennium Advisors LLC Trims Stock Holdings in IDEX Co. (NYSE:IEX)

Worldquant Millennium Advisors LLC trimmed its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 52.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,594 shares of the industrial products company's stock after selling 33,162 shares during the period. Worldquant Millennium Advisors LLC's holdings in IDEX were worth $6,194,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IEX. Barclays PLC grew its position in IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock valued at $252,603,000 after purchasing an additional 14,360 shares in the last quarter. Park Avenue Securities LLC raised its stake in IDEX by 27.0% in the 4th quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company's stock worth $488,000 after purchasing an additional 495 shares in the last quarter. HB Wealth Management LLC raised its stake in IDEX by 23.1% in the 4th quarter. HB Wealth Management LLC now owns 1,157 shares of the industrial products company's stock worth $242,000 after purchasing an additional 217 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in IDEX by 31.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,914 shares of the industrial products company's stock worth $2,284,000 after purchasing an additional 2,582 shares in the last quarter. Finally, Fenimore Asset Management Inc raised its position in shares of IDEX by 0.3% in the 4th quarter. Fenimore Asset Management Inc now owns 839,507 shares of the industrial products company's stock valued at $175,701,000 after buying an additional 2,701 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on IEX. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. DA Davidson reduced their price objective on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada boosted their price objective on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Stifel Nicolaus boosted their target price on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Mizuho set a $185.00 price objective on shares of IDEX in a report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.50.

IDEX Stock Up 1.4%

Shares of IEX traded up $2.52 on Tuesday, reaching $182.12. The company's stock had a trading volume of 84,645 shares, compared to its average volume of 627,797. 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 Co. has a twelve month low of $153.36 and a twelve month high of $238.22. The stock has a market capitalization of $13.76 billion, a PE ratio of 27.39, a PEG ratio of 1.98 and a beta of 1.07. The firm has a fifty day moving average of $176.77 and a 200-day moving average of $198.79.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The firm had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. During the same quarter last year, the business posted $1.88 EPS. The company's revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts predict that IDEX Co. will post 8.26 EPS for the current year.

IDEX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a dividend of $0.71 per share. This is an increase from IDEX's previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Monday, May 19th. IDEX's dividend payout ratio is currently 45.01%.

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.