IDEX Corporation $IEX Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its holdings in shares of IDEX Corporation (NYSE:IEX) by 1,013.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,467 shares of the industrial products company’s stock after buying an additional 12,258 shares during the period. Exchange Traded Concepts LLC’s holdings in IDEX were worth $2,192,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. grew its position in shares of IDEX by 235.5% during the second quarter. Assetmark Inc. now owns 1,899 shares of the industrial products company’s stock worth $333,000 after buying an additional 1,333 shares in the last quarter. Groupama Asset Managment lifted its stake in IDEX by 80.9% in the second quarter. Groupama Asset Managment now owns 10,194 shares of the industrial products company’s stock worth $1,797,000 after acquiring an additional 4,558 shares during the last quarter. SG Americas Securities LLC grew its holdings in IDEX by 70.1% during the 2nd quarter. SG Americas Securities LLC now owns 15,636 shares of the industrial products company’s stock worth $2,745,000 after acquiring an additional 6,443 shares in the last quarter. Prudential Financial Inc. increased its position in shares of IDEX by 7.9% in the 2nd quarter. Prudential Financial Inc. now owns 43,179 shares of the industrial products company’s stock valued at $7,581,000 after purchasing an additional 3,151 shares during the last quarter. Finally, Clarkston Capital Partners LLC acquired a new stake in shares of IDEX in the 2nd quarter valued at $17,563,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of analyst reports. Cowen reiterated a “buy” rating on shares of IDEX in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Stifel Nicolaus lowered their price objective on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada decreased their target price on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.86.

IDEX Stock Down 0.1%

IEX opened at $180.20 on Friday. IDEX Corporation has a one year low of $153.36 and a one year high of $226.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.93. The stock has a market capitalization of $13.49 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.01. The business’s 50-day simple moving average is $171.95 and its 200-day simple moving average is $170.62.

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

IDEX Dividend Announcement

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

IDEX declared that its board has initiated a share buyback program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About IDEX

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.