BluePath Capital Management LLC Takes $243,000 Position in IDEX Co. (NYSE:IEX)

BluePath Capital Management LLC bought a new stake in shares of IDEX Co. (NYSE:IEX) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 996 shares of the industrial products company’s stock, valued at approximately $243,000.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new position in IDEX during the first quarter worth $35,000. Planned Solutions Inc. bought a new position in shares of IDEX during the fourth quarter valued at approximately $33,000. Quarry LP purchased a new stake in shares of IDEX in the fourth quarter worth approximately $36,000. EdgeRock Capital LLC bought a new stake in shares of IDEX during the 4th quarter worth approximately $48,000. Finally, VisionPoint Advisory Group LLC purchased a new position in IDEX during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 0.6 %

NYSE:IEX traded down $1.15 during trading hours on Wednesday, reaching $195.26. The company’s stock had a trading volume of 276,082 shares, compared to its average volume of 419,990. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The company has a market capitalization of $14.78 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. The stock has a 50 day moving average price of $211.19 and a two-hundred day moving average price of $220.88. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same period in the previous year, the company posted $2.09 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Equities analysts predict that IDEX Co. will post 8.31 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, July 12th. IDEX’s dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IEX shares. Oppenheimer lifted their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Citigroup lifted their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Finally, Robert W. Baird decreased their target price on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and an average price target of $250.71.

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.