IDEX Corporation $IEX Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its stake in IDEX Corporation (NYSE:IEX) by 128.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 31,050 shares of the industrial products company’s stock after buying an additional 17,455 shares during the quarter. Edgestream Partners L.P.’s holdings in IDEX were worth $5,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IEX. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of IDEX by 257.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 103 shares during the period. American National Bank & Trust bought a new position in IDEX in the 2nd quarter worth about $25,000. Loomis Sayles & Co. L P bought a new position in IDEX in the 2nd quarter worth about $33,000. Steph & Co. acquired a new stake in shares of IDEX in the second quarter valued at approximately $42,000. Finally, SVB Wealth LLC bought a new stake in shares of IDEX during the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE:IEX opened at $175.10 on Wednesday. The company has a 50-day moving average of $167.01 and a 200-day moving average of $170.93. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The company has a current ratio of 2.93, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $231.93.

IDEX (NYSE:IEX) last released its earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. The business had revenue of $712.00 million for the quarter. Analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, January 16th. IDEX’s dividend payout ratio is 44.94%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IEX. Stifel Nicolaus decreased their price objective on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Finally, Oppenheimer set a $210.00 price objective on shares of IDEX in a report on Tuesday, October 7th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and an average price target of $198.86.

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.