IDEX Corporation $IEX Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its position in IDEX Corporation (NYSE:IEX) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,810 shares of the industrial products company’s stock after purchasing an additional 4,610 shares during the period. Nisa Investment Advisors LLC’s holdings in IDEX were worth $6,112,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IEX. Oppenheimer Asset Management Inc. lifted its position in IDEX by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,040 shares of the industrial products company’s stock valued at $1,763,000 after buying an additional 1,708 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of IDEX by 0.3% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 173,298 shares of the industrial products company’s stock valued at $30,426,000 after acquiring an additional 566 shares during the period. Forum Financial Management LP lifted its holdings in shares of IDEX by 14.6% during the 2nd quarter. Forum Financial Management LP now owns 1,474 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 188 shares in the last quarter. Ethic Inc. purchased a new stake in IDEX during the 2nd quarter worth $225,000. Finally, Cullen Frost Bankers Inc. boosted its position in IDEX by 2.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,112 shares of the industrial products company’s stock worth $546,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IEX. Stifel Nicolaus reduced their price objective on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Royal Bank Of Canada dropped their target price on IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Citigroup upped their price target on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, July 14th. DA Davidson set a $180.00 price objective on shares of IDEX and gave the company a “neutral” rating in a research note on Monday, August 4th. Finally, Oppenheimer set a $210.00 target price on shares of IDEX in a research report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.57.

IDEX Trading Down 0.4%

IEX opened at $166.90 on Wednesday. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $238.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. The stock has a market capitalization of $12.57 billion, a PE ratio of 26.96, a P/E/G ratio of 1.77 and a beta of 1.04. The firm’s fifty day moving average price is $164.00 and its 200 day moving average price is $172.16.

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

IDEX Dividend Announcement

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

IDEX declared that its Board of Directors has initiated a share buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is 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.