IDEX Co. (NYSE:IEX) Shares Sold by Tobam

Tobam trimmed its holdings in IDEX Co. (NYSE:IEX) by 41.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 342 shares of the industrial products company’s stock after selling 240 shares during the period. Tobam’s holdings in IDEX were worth $74,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IEX. American Century Companies Inc. boosted its stake in IDEX by 34.2% in the 1st quarter. American Century Companies Inc. now owns 3,251 shares of the industrial products company’s stock worth $623,000 after buying an additional 829 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of IDEX in the 1st quarter valued at about $1,058,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of IDEX by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,173 shares of the industrial products company’s stock valued at $1,950,000 after purchasing an additional 630 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of IDEX by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 16,223 shares of the industrial products company’s stock valued at $3,110,000 after purchasing an additional 555 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of IDEX by 24.2% in the 1st quarter. Sei Investments Co. now owns 82,824 shares of the industrial products company’s stock valued at $15,877,000 after purchasing an additional 16,117 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IEX. Citigroup lifted their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Finally, Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and a consensus target price of $238.00.

IDEX Stock Performance

IDEX stock opened at $236.25 on Friday. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36. The company has a market capitalization of $17.88 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. The firm’s fifty day moving average price is $235.65 and its 200 day moving average price is $215.12.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.05. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm had revenue of $788.90 million for the quarter, compared to the consensus estimate of $767.96 million. During the same quarter in the previous year, the firm posted $2.01 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts forecast that IDEX Co. will post 8.35 EPS for the current fiscal year.

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.