DnB Asset Management AS Increases Stake in IDEX Co. (NYSE:IEX)

DnB Asset Management AS lifted its stake in shares of IDEX Co. (NYSE:IEXGet Rating) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,774 shares of the industrial products company’s stock after buying an additional 458 shares during the quarter. DnB Asset Management AS’s holdings in IDEX were worth $3,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of IEX. Ceredex Value Advisors LLC purchased a new position in shares of IDEX during the first quarter valued at about $65,607,000. Champlain Investment Partners LLC increased its position in shares of IDEX by 39.9% during the first quarter. Champlain Investment Partners LLC now owns 1,122,850 shares of the industrial products company’s stock valued at $215,284,000 after buying an additional 320,220 shares during the period. JPMorgan Chase & Co. increased its position in shares of IDEX by 25.9% during the first quarter. JPMorgan Chase & Co. now owns 1,083,699 shares of the industrial products company’s stock valued at $207,778,000 after buying an additional 223,005 shares during the period. BlackRock Inc. increased its position in shares of IDEX by 3.7% during the fourth quarter. BlackRock Inc. now owns 6,060,157 shares of the industrial products company’s stock valued at $1,432,137,000 after buying an additional 218,305 shares during the period. Finally, Brown Advisory Inc. boosted its stake in IDEX by 6.6% during the first quarter. Brown Advisory Inc. now owns 2,559,666 shares of the industrial products company’s stock worth $503,292,000 after acquiring an additional 159,173 shares in the last quarter. Hedge funds and other institutional investors own 96.52% of the company’s stock.

Analyst Ratings Changes

IEX has been the topic of several research reports. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Oppenheimer raised shares of IDEX from a “market perform” rating to an “outperform” rating and set a $215.00 price objective on the stock in a research note on Thursday, July 14th. Mizuho boosted their price objective on shares of IDEX from $190.00 to $205.00 and gave the stock a “neutral” rating in a research note on Monday, August 1st. Morgan Stanley dropped their price objective on shares of IDEX from $250.00 to $225.00 and set an “overweight” rating on the stock in a research note on Thursday, June 9th. Finally, Stifel Nicolaus lowered shares of IDEX from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $229.00 to $188.00 in a research note on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

IDEX Trading Down 1.5 %

Shares of NYSE IEX opened at $206.22 on Wednesday. The firm’s 50 day moving average price is $204.72 and its 200-day moving average price is $194.60. The company has a market cap of $15.56 billion, a PE ratio of 30.78, a P/E/G ratio of 2.15 and a beta of 1.05. IDEX Co. has a 52-week low of $172.18 and a 52-week high of $240.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.13 and a current ratio of 3.02.

IDEX (NYSE:IEXGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. IDEX had a net margin of 17.24% and a return on equity of 19.50%. During the same quarter in the prior year, the business earned $1.61 EPS. On average, equities research analysts expect that IDEX Co. will post 7.94 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. IDEX’s dividend payout ratio (DPR) is 35.82%.

IDEX Profile

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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.

See Also

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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