Two Sigma Advisers LP Sells 96,500 Shares of IDEX Co. (NYSE:IEX)

Two Sigma Advisers LP cut its stake in IDEX Co. (NYSE:IEX - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,800 shares of the industrial products company's stock after selling 96,500 shares during the period. Two Sigma Advisers LP owned approximately 0.42% of IDEX worth $66,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC grew its position in IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock worth $252,603,000 after buying an additional 14,360 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of IDEX by 27.0% during 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 increased its position in shares of IDEX by 23.1% during the fourth quarter. HB Wealth Management LLC now owns 1,157 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 217 shares during the period. Guinness Asset Management LTD raised its stake in shares of IDEX by 4.0% in the fourth quarter. Guinness Asset Management LTD now owns 2,408 shares of the industrial products company's stock valued at $504,000 after purchasing an additional 93 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in IDEX by 31.0% in the fourth 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 during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

IDEX Stock Down 0.6%

Shares of IEX opened at $189.80 on Tuesday. The business's 50 day simple moving average is $176.88 and its 200-day simple moving average is $200.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a one year low of $153.36 and a one year high of $238.22. The company has a market capitalization of $14.34 billion, a P/E ratio of 28.54, a PEG ratio of 1.98 and a beta of 1.07.

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

IDEX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from IDEX's previous quarterly dividend of $0.69. IDEX's dividend payout ratio (DPR) is 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.

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