845 Shares in IDEX Co. (NYSE:IEX) Purchased by NuWave Investment Management LLC

NuWave Investment Management LLC acquired a new position in shares of IDEX Co. (NYSE:IEXGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 845 shares of the industrial products company’s stock, valued at approximately $162,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC increased its position in IDEX by 20.9% during the fourth quarter. Eagle Bay Advisors LLC now owns 284 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 49 shares during the last quarter. Mutual of America Capital Management LLC increased its position in IDEX by 0.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 10,078 shares of the industrial products company’s stock worth $2,382,000 after purchasing an additional 52 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in IDEX by 0.6% during the fourth quarter. First Republic Investment Management Inc. now owns 8,095 shares of the industrial products company’s stock worth $1,913,000 after buying an additional 52 shares during the period. Fifth Third Bancorp boosted its stake in IDEX by 4.3% during the fourth quarter. Fifth Third Bancorp now owns 1,355 shares of the industrial products company’s stock worth $320,000 after buying an additional 56 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in IDEX by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 15,585 shares of the industrial products company’s stock worth $3,683,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Shares of NYSE:IEX opened at $176.99 on Thursday. The firm’s 50 day moving average price is $187.87 and its 200 day moving average price is $201.42. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. IDEX Co. has a fifty-two week low of $172.18 and a fifty-two week high of $240.33. The company has a quick ratio of 2.68, a current ratio of 3.59 and a debt-to-equity ratio of 0.41.

IDEX (NYSE:IEXGet Rating) last issued its earnings results on Tuesday, April 26th. The industrial products company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.22. The firm had revenue of $751.10 million for the quarter, compared to analysts’ expectations of $721.21 million. IDEX had a net margin of 16.65% and a return on equity of 18.61%. During the same quarter last year, the company earned $1.51 earnings per share. On average, equities analysts anticipate that IDEX Co. will post 7.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.36%. IDEX’s payout ratio is currently 38.52%.

Several research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of IDEX from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Thursday, June 9th. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. Stifel Nicolaus lowered their target price on shares of IDEX from $244.00 to $231.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Mizuho lowered their target price on shares of IDEX from $233.00 to $205.00 in a research note on Thursday, April 28th. Finally, Loop Capital lowered their price objective on shares of IDEX from $225.00 to $210.00 in a research note on Monday, April 4th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.30.

IDEX Profile (Get Rating)

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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

Further Reading

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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