Voloridge Investment Management LLC Decreases Stake in IDEX Co. (NYSE:IEX)

Voloridge Investment Management LLC lessened its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 45.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,229 shares of the industrial products company's stock after selling 130,238 shares during the quarter. Voloridge Investment Management LLC owned 0.20% of IDEX worth $32,069,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Bleakley Financial Group LLC boosted its stake in IDEX by 4.1% during the fourth quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock worth $254,000 after buying an additional 48 shares during the period. Blackston Financial Advisory Group LLC boosted its stake in IDEX by 2.7% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company's stock worth $481,000 after buying an additional 60 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its stake in IDEX by 3.2% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,127 shares of the industrial products company's stock worth $445,000 after buying an additional 66 shares during the period. Net Worth Advisory Group lifted its position in shares of IDEX by 2.8% during the fourth quarter. Net Worth Advisory Group now owns 2,651 shares of the industrial products company's stock worth $555,000 after purchasing an additional 73 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its position in shares of IDEX by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 10,234 shares of the industrial products company's stock worth $2,142,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Stock Performance

Shares of IEX traded up $2.54 during mid-day trading on Tuesday, reaching $182.14. 84,645 shares of the company's stock were exchanged, compared to its average volume of 582,236. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The stock has a market capitalization of $13.76 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The business's fifty day simple moving average is $176.77 and its 200-day simple moving average is $198.79. IDEX Co. has a 52-week low of $153.36 and a 52-week high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $807.25 million. During the same period last year, the firm posted $1.88 EPS. IDEX's quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.56%. This is a positive change from IDEX's previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, May 19th. IDEX's dividend payout ratio (DPR) is 45.01%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Robert W. Baird set a $215.00 price target on shares of IDEX in a research report on Friday, May 2nd. Citigroup cut their price objective 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. Stifel Nicolaus raised their price objective on shares of IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Mizuho set a $185.00 price objective on shares of IDEX in a report on Friday, May 16th. Finally, 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 report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently 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.