Maren Capital LLC Acquires 1,752 Shares of IDEX Co. (NYSE:IEX)

Maren Capital LLC raised its stake in IDEX Co. (NYSE:IEX) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,752 shares of the industrial products company’s stock after purchasing an additional 1,752 shares during the quarter. IDEX comprises about 5.2% of Maren Capital LLC’s investment portfolio, making the stock its 10th biggest position. Maren Capital LLC owned 0.39% of IDEX worth $63,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Argus cut IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Stifel Nicolaus boosted their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird cut their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Stock Down 0.6 %

IDEX stock opened at $230.52 on Wednesday. The company’s 50-day moving average price is $218.10 and its two-hundred day moving average price is $208.10. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.45 and a beta of 0.96. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. 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 (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same period in the prior year, the firm posted $2.12 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts expect that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is presently 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.