CIBC Asset Management Inc Acquires 459 Shares of IDEX Co. (NYSE:IEX)

CIBC Asset Management Inc boosted its holdings in IDEX Co. (NYSE:IEX) by 1.9% during the third quarter, HoldingsChannel.com reports. The fund owned 24,054 shares of the industrial products company’s stock after purchasing an additional 459 shares during the period. CIBC Asset Management Inc’s holdings in IDEX were worth $5,160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in IDEX by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after buying an additional 555,250 shares in the last quarter. Van ECK Associates Corp boosted its position in IDEX by 9,424.6% in the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after buying an additional 1,021,439 shares in the last quarter. Hsbc Holdings PLC boosted its position in IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after buying an additional 223,422 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in IDEX by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock valued at $94,698,000 after buying an additional 78,551 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in IDEX by 4.8% in the third quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company’s stock valued at $93,640,000 after buying an additional 20,175 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Oppenheimer reduced their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Robert W. Baird reduced their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Stifel Nicolaus upped their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen reduced their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Down 0.7 %

Shares of IEX stock opened at $227.83 on Monday. 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 Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The firm’s fifty day moving average price is $212.21 and its two-hundred day moving average price is $207.58. The firm has a market capitalization of $17.25 billion, a P/E ratio of 35.27, a PEG ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same period in the previous year, the business earned $2.12 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

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.