B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of IDEX Co. (NYSE:IEX – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,507 shares of the industrial products company’s stock, valued at approximately $2,908,000.
Several other institutional investors also recently modified their holdings of the business. AE Wealth Management LLC purchased a new position in IDEX in the second quarter worth about $13,519,000. SG Americas Securities LLC purchased a new position in IDEX in the second quarter worth about $5,138,000. OneAscent Financial Services LLC boosted its position in IDEX by 8.2% in the second quarter. OneAscent Financial Services LLC now owns 1,288 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 98 shares during the last quarter. DNB Asset Management AS boosted its position in IDEX by 4.8% in the second quarter. DNB Asset Management AS now owns 18,107 shares of the industrial products company’s stock worth $3,898,000 after purchasing an additional 831 shares during the last quarter. Finally, Cooper Financial Group boosted its position in IDEX by 3.2% in the second quarter. Cooper Financial Group now owns 1,602 shares of the industrial products company’s stock worth $345,000 after purchasing an additional 50 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on IEX. Stifel Nicolaus lifted their price objective on IDEX from $214.00 to $220.00 and gave the company a “hold” rating in a research report on Wednesday, July 19th. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of IDEX in a research note on Monday, July 31st. Citigroup boosted their target price on IDEX from $243.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, July 28th. StockNews.com initiated coverage on IDEX in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Argus boosted their target price on IDEX from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.92.
IDEX Trading Down 1.0 %
IEX traded down $2.06 during trading hours on Friday, reaching $214.24. 532,075 shares of the company’s stock traded hands, compared to its average volume of 463,682. The firm has a 50-day moving average price of $219.38 and a 200 day moving average price of $215.48. IDEX Co. has a 52-week low of $195.27 and a 52-week high of $246.23. The company has a quick ratio of 2.07, a current ratio of 3.06 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $16.20 billion, a PE ratio of 27.72, a PEG ratio of 2.25 and a beta of 0.99.
IDEX (NYSE:IEX – Get Free Report) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.07. IDEX had a return on equity of 20.69% and a net margin of 17.65%. The business had revenue of $846.20 million during the quarter, compared to analysts’ expectations of $852.28 million. During the same period in the prior year, the business earned $2.02 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that IDEX Co. will post 7.97 EPS for the current fiscal year.
IDEX Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, October 12th. IDEX’s dividend payout ratio is 33.12%.
IDEX Company Profile
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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