Studio Investment Management LLC Purchases 45 Shares of IDEX Co. (NYSE:IEX)

Studio Investment Management LLC grew its holdings in shares of IDEX Co. (NYSE:IEX) by 4.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 955 shares of the industrial products company’s stock after purchasing an additional 45 shares during the quarter. Studio Investment Management LLC’s holdings in IDEX were worth $205,000 at the end of the most recent reporting period.

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

IDEX Stock Performance

IDEX stock opened at $232.50 on Friday. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The firm’s fifty day moving average price is $215.08 and its 200-day moving average price is $207.96. The stock has a market cap of $17.60 billion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating 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 business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter last year, the business posted $2.12 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts expect that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

IEX has been the topic of several analyst reports. Argus cut IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird decreased 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. Oppenheimer lowered their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. DA Davidson reduced their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Finally, Stifel Nicolaus increased their price objective on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.14.

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.