IDEX Co. (NYSE:IEX) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its position in IDEX Co. (NYSE:IEX - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,103 shares of the industrial products company's stock after purchasing an additional 9,940 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of IDEX worth $31,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IEX. MassMutual Private Wealth & Trust FSB boosted its holdings in IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after buying an additional 64 shares during the period. Banque de Luxembourg S.A. purchased a new position in shares of IDEX in the fourth quarter valued at about $27,000. Quarry LP bought a new position in shares of IDEX in the fourth quarter worth about $49,000. Versant Capital Management Inc grew its position in shares of IDEX by 970.7% during the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock worth $79,000 after purchasing an additional 398 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock valued at $85,000 after purchasing an additional 106 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Up 1.7%

Shares of NYSE IEX traded up $3.02 during midday trading on Friday, reaching $183.30. 479,634 shares of the company's stock traded hands, compared to its average volume of 579,332. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 1.98 and a beta of 1.06. IDEX Co. has a one year low of $153.36 and a one year high of $238.22. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock's 50 day simple moving average is $176.42 and its 200-day simple moving average is $196.58.

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

IDEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from IDEX's previous quarterly dividend of $0.69. IDEX's payout ratio is presently 45.01%.

Analyst Ratings Changes

IEX has been the topic of a number of research reports. Citigroup reduced their price target 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. DA Davidson cut their price objective on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Mizuho set a $185.00 price objective on IDEX in a report on Friday, May 16th. Stifel Nicolaus lifted their price objective 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, Royal Bank of Canada upped their target price 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $212.50.

About IDEX

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.