Moore Capital Management LP Acquires Shares of 61,542 IDEX Co. (NYSE:IEX)

Moore Capital Management LP purchased a new position in IDEX Co. (NYSE:IEX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 61,542 shares of the industrial products company's stock, valued at approximately $12,880,000. Moore Capital Management LP owned about 0.08% of IDEX at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Banque de Luxembourg S.A. purchased a new position in IDEX in the 4th quarter worth approximately $27,000. Quarry LP purchased a new position in shares of IDEX in the fourth quarter worth $49,000. Jones Financial Companies Lllp lifted its holdings in shares of IDEX by 35.2% during the fourth 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 in the last quarter. Assetmark Inc. boosted its position in shares of IDEX by 129.1% during the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock valued at $87,000 after buying an additional 235 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in IDEX by 24,700.0% in the 4th quarter. Ancora Advisors LLC now owns 496 shares of the industrial products company's stock worth $104,000 after buying an additional 494 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Performance

NYSE:IEX traded up $1.24 during mid-day trading on Thursday, hitting $189.71. 528,980 shares of the company traded hands, compared to its average volume of 579,369. 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 fifty day moving average price is $176.54 and its 200-day moving average price is $200.97. The firm has a market cap of $14.33 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. IDEX Co. has a one year low of $153.36 and a one year high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. During the same period in the previous year, the company posted $1.88 EPS. The firm's revenue was up 1.7% on a year-over-year basis. Research analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.84 annualized dividend and a yield of 1.50%. This is an increase from IDEX's previous quarterly dividend of $0.69. IDEX's dividend payout ratio is currently 45.01%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IEX shares. Robert W. Baird set a $215.00 price target on shares of IDEX in a research note on Friday, May 2nd. Mizuho set a $175.00 target price on shares of IDEX in a research report on Tuesday, April 22nd. Citigroup lowered their price target on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. DA Davidson reduced their price objective on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada boosted their price target on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $211.25.

IDEX Company 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.