BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Stake in IDEX Co. (NYSE:IEX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in IDEX Co. (NYSE:IEX) by 7.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 250,443 shares of the industrial products company’s stock after buying an additional 16,504 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.33% of IDEX worth $53,720,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IEX. Van ECK Associates Corp raised its stake in IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after acquiring an additional 1,021,439 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of IDEX by 7.5% during the first 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 purchasing an additional 555,250 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of IDEX by 75.6% during the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after purchasing an additional 223,422 shares during the period. D. E. Shaw & Co. Inc. grew its position in IDEX by 247.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after buying an additional 141,064 shares during the last quarter. Finally, Millennium Management LLC increased its stake in IDEX by 1,541.6% in the 2nd quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock valued at $27,915,000 after buying an additional 130,292 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Up 2.0 %

Shares of IEX stock opened at $227.50 on Friday. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $214.43 and a 200-day simple moving average of $207.89. The stock has a market cap of $17.23 billion, a P/E ratio of 35.22, a P/E/G ratio of 2.36 and a beta of 0.96.

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

IDEX Announces Dividend

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

Wall Street Analysts Forecast Growth

IEX has been the topic of several analyst reports. TD Cowen lowered their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. DA Davidson dropped their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, Argus downgraded IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $241.14.

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.