Hahn Capital Management LLC Raises Stock Holdings in IDEX Co. (NYSE:IEX)

Hahn Capital Management LLC raised its position in shares of IDEX Co. (NYSE:IEX) by 33.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,659 shares of the industrial products company’s stock after buying an additional 1,416 shares during the quarter. IDEX comprises approximately 0.5% of Hahn Capital Management LLC’s portfolio, making the stock its 28th biggest position. Hahn Capital Management LLC’s holdings in IDEX were worth $1,139,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in shares of IDEX by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after buying an additional 555,250 shares during the last quarter. Norges Bank purchased a new stake in shares of IDEX in the fourth quarter worth $237,425,000. Charles Schwab Investment Management Inc. grew its stake in shares of IDEX by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock worth $132,164,000 after acquiring an additional 15,202 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of IDEX by 19.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 492,810 shares of the industrial products company’s stock valued at $106,994,000 after acquiring an additional 81,780 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of IDEX by 3.8% in the 4th quarter. Fisher Asset Management LLC now owns 429,021 shares of the industrial products company’s stock worth $93,145,000 after purchasing an additional 15,633 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of IDEX stock opened at $195.14 on Friday. The stock has a market cap of $14.77 billion, a P/E ratio of 25.68, a P/E/G ratio of 2.18 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. The stock’s fifty day moving average is $200.08 and its 200 day moving average is $216.03. IDEX Co. has a one year low of $183.76 and a one year high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. The firm had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 earnings per share. Sell-side analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 annualized dividend and a dividend yield of 1.41%. IDEX’s payout ratio is 36.32%.

Analyst Ratings Changes

Several brokerages have issued reports on IEX. Royal Bank of Canada decreased their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. DA Davidson decreased their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Oppenheimer reduced their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Robert W. Baird dropped their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Stifel Nicolaus decreased their target price on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $233.50.

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.