IDEX Co. (NYSE:IEX) Shares Bought by Premier Fund Managers Ltd

Premier Fund Managers Ltd increased its holdings in IDEX Co. (NYSE:IEX) by 36.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 300,000 shares of the industrial products company’s stock after buying an additional 80,000 shares during the period. IDEX comprises approximately 2.3% of Premier Fund Managers Ltd’s holdings, making the stock its 11th biggest position. Premier Fund Managers Ltd’s holdings in IDEX were worth $64,482,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of IEX. Catalyst Capital Advisors LLC boosted its stake in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares during the period. Assetmark Inc. acquired a new position in IDEX during the 3rd quarter valued at approximately $39,000. EdgeRock Capital LLC bought a new position in IDEX during the 2nd quarter worth $41,000. Whittier Trust Co. increased its position in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Robert W. Baird reduced their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. DA Davidson lowered their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Finally, TD Cowen cut their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Performance

IEX opened at $223.61 on Wednesday. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. The business has a 50 day moving average price of $213.32 and a two-hundred day moving average price of $207.65. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter last year, the business posted $2.12 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Research analysts predict that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.23%. IDEX’s payout ratio is currently 42.72%.

About IDEX

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.