IDEX Corporation $IEX Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of IDEX Corporation (NYSE:IEX) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 177,973 shares of the industrial products company’s stock after purchasing an additional 5,870 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of IDEX worth $31,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IEX. Horizon Investments LLC lifted its position in shares of IDEX by 5.2% during the 1st quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company’s stock valued at $197,000 after buying an additional 54 shares in the last quarter. Empowered Funds LLC raised its position in IDEX by 3.4% during the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 54 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in IDEX by 2.0% during the second quarter. Cullen Frost Bankers Inc. now owns 3,112 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 60 shares in the last quarter. Blue Trust Inc. grew its position in shares of IDEX by 21.5% in the second quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 79 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of IDEX by 42.9% during the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 100 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Performance

Shares of IDEX stock opened at $173.82 on Thursday. The business’s 50 day moving average price is $165.92 and its 200 day moving average price is $171.51. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.13 and a current ratio of 2.93. IDEX Corporation has a one year low of $153.36 and a one year high of $233.15.

IDEX (NYSE:IEX) last issued its earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%.The business had revenue of $712.00 million during the quarter. On average, research analysts predict that IDEX Corporation will post 8.26 EPS for the current year.

IDEX announced that its board has authorized a stock repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 dividend on an annualized basis and a yield of 1.6%. IDEX’s payout ratio is 44.94%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Royal Bank Of Canada reduced their target price on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Stifel Nicolaus lowered their price target on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. DA Davidson set a $180.00 price target on IDEX and gave the stock a “neutral” rating in a research report on Monday, August 4th. Finally, Oppenheimer set a $210.00 price objective on IDEX in a report on Tuesday, October 7th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, IDEX presently has an average rating of “Moderate Buy” and an average target price of $198.86.

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.