Schonfeld Strategic Advisors LLC trimmed its holdings in IDEX Co. (NYSE:IEX - Free Report) by 95.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,744 shares of the industrial products company's stock after selling 34,070 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in IDEX were worth $365,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in IEX. Bleakley Financial Group LLC boosted its stake in IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock valued at $254,000 after purchasing an additional 48 shares during the last quarter. Albert D Mason Inc. lifted its holdings in shares of IDEX by 1.3% during the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company's stock valued at $948,000 after purchasing an additional 56 shares in the last quarter. Blackston Financial Advisory Group LLC boosted its position in shares of 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 valued at $481,000 after buying an additional 60 shares during the last quarter. Signal Advisors Wealth LLC raised its position in IDEX by 3.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company's stock worth $381,000 after buying an additional 63 shares during the last quarter. Finally, Net Worth Advisory Group raised its position in IDEX by 2.8% in the 4th quarter. Net Worth Advisory Group now owns 2,651 shares of the industrial products company's stock worth $555,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.
Wall Street Analyst Weigh In
IEX has been the subject of a number of research analyst reports. Mizuho set a $175.00 price target on shares of IDEX in a research note on Tuesday, April 22nd. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Stifel Nicolaus increased their price target on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Citigroup cut their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, DA Davidson lowered their target price on 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 assigned a buy rating to the stock. According to MarketBeat, IDEX has an average rating of "Moderate Buy" and an average price target of $211.25.
Read Our Latest Stock Analysis on IDEX
IDEX Stock Performance
NYSE:IEX traded down $1.73 during mid-day trading on Wednesday, hitting $188.58. 517,542 shares of the company traded hands, compared to its average volume of 577,322. The stock's fifty day moving average price is $176.51 and its 200-day moving average price is $201.06. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX Co. has a one year low of $153.36 and a one year high of $238.22. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07.
IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. During the same period in the prior year, the firm posted $1.88 EPS. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. 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 is Monday, May 19th. This represents a $2.84 annualized dividend and a yield of 1.51%. This is an increase from IDEX's previous quarterly dividend of $0.69. IDEX's dividend payout ratio is currently 45.01%.
About IDEX
(
Free Report)
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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