Mediolanum International Funds Ltd Cuts Stock Position in IDEX Co. (NYSE:IEX)

Mediolanum International Funds Ltd cut its holdings in IDEX Co. (NYSE:IEX) by 63.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,424 shares of the industrial products company’s stock after selling 14,650 shares during the quarter. Mediolanum International Funds Ltd’s holdings in IDEX were worth $1,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of IDEX by 152.0% in the fourth quarter. Blue Trust Inc. now owns 1,212 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 731 shares in the last quarter. Fenimore Asset Management Inc grew its holdings in shares of IDEX by 0.3% in the fourth quarter. Fenimore Asset Management Inc now owns 839,507 shares of the industrial products company’s stock valued at $175,701,000 after purchasing an additional 2,701 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of IDEX by 31.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 10,914 shares of the industrial products company’s stock valued at $2,284,000 after purchasing an additional 2,582 shares in the last quarter. Guinness Asset Management LTD grew its holdings in shares of IDEX by 4.0% in the fourth quarter. Guinness Asset Management LTD now owns 2,408 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 93 shares in the last quarter. Finally, HB Wealth Management LLC grew its holdings in shares of IDEX by 23.1% in the fourth quarter. HB Wealth Management LLC now owns 1,157 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 217 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Up 0.0 %

NYSE:IEX opened at $224.19 on Monday. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 2.15 and a beta of 0.97. The stock has a fifty day simple moving average of $218.90 and a 200-day simple moving average of $211.90. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $0.69 dividend. The ex-dividend date was Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.23%. IDEX’s payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

Several research firms have commented on IEX. Robert W. Baird dropped their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Citigroup dropped their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus lifted their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.86.

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.