Moore Capital Management LP Invests $12.88 Million in IDEX Co. (NYSE:IEX)

Moore Capital Management LP purchased a new stake in IDEX Co. (NYSE:IEX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 61,542 shares of the industrial products company’s stock, valued at approximately $12,880,000. Moore Capital Management LP owned approximately 0.08% of IDEX at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in IEX. Vanguard Group Inc. raised its holdings in shares of IDEX by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock worth $1,947,654,000 after acquiring an additional 63,432 shares during the last quarter. Wellington Management Group LLP grew its position in shares of IDEX by 49.1% in the fourth quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company’s stock valued at $883,119,000 after purchasing an additional 1,388,667 shares during the period. Price T Rowe Associates Inc. MD lifted its position in IDEX by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock worth $767,421,000 after buying an additional 277,964 shares during the period. Geode Capital Management LLC grew its holdings in IDEX by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company’s stock valued at $399,350,000 after buying an additional 21,758 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of IDEX by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,868,919 shares of the industrial products company’s stock worth $391,147,000 after acquiring an additional 17,087 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IEX. DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus raised their target price on shares of IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Robert W. Baird set a $215.00 price target on shares of IDEX in a research report on Friday, May 2nd. Royal Bank of Canada boosted their price objective on IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Mizuho set a $175.00 target price on IDEX in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.25.

IDEX Trading Down 0.7%

NYSE:IEX opened at $183.40 on Monday. The company’s 50 day moving average is $176.39 and its 200-day moving average is $201.21. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX Co. has a 12 month low of $153.36 and a 12 month high of $238.22. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.98 and a beta of 1.07.

IDEX (NYSE:IEX) last announced its earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $807.25 million. During the same quarter last year, the firm posted $1.88 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts anticipate that IDEX Co. will post 8.26 EPS for the current year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, May 19th. This is a positive change from IDEX’s previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.55%. IDEX’s payout ratio is 43.74%.

IDEX 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.