IDEX Corporation $IEX Shares Sold by MQS Management LLC

MQS Management LLC cut its stake in shares of IDEX Corporation (NYSE:IEX) by 44.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,372 shares of the industrial products company’s stock after selling 1,105 shares during the period. MQS Management LLC’s holdings in IDEX were worth $241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in IDEX by 257.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. American National Bank & Trust acquired a new position in IDEX during the 2nd quarter worth approximately $25,000. Steph & Co. acquired a new position in shares of IDEX in the 2nd quarter valued at approximately $42,000. SVB Wealth LLC acquired a new position in shares of IDEX in the 1st quarter valued at approximately $56,000. Finally, Federated Hermes Inc. raised its position in shares of IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 100 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IEX shares. Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Citigroup upped their target price on IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Royal Bank Of Canada cut their target price on IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Finally, DA Davidson set a $180.00 target price on IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.57.

IDEX Price Performance

Shares of IEX opened at $167.74 on Tuesday. The company has a market cap of $12.63 billion, a P/E ratio of 27.10, a PEG ratio of 1.77 and a beta of 1.04. The stock has a fifty day moving average price of $163.98 and a 200 day moving average price of $172.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The firm had revenue of $712.00 million during the quarter. IDEX had a return on equity of 15.16% and a net margin of 14.05%. On average, research analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, October 10th. IDEX’s dividend payout ratio is presently 45.88%.

IDEX declared that its Board of Directors has approved a share buyback program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 8.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.