Nuance Investments LLC Cuts Stock Holdings in IDEX Co. (NYSE:IEX)

Nuance Investments LLC cut its stake in shares of IDEX Co. (NYSE:IEX) by 21.3% in the 4th quarter, HoldingsChannel reports. The firm owned 109,293 shares of the industrial products company’s stock after selling 29,600 shares during the period. IDEX makes up 0.9% of Nuance Investments LLC’s portfolio, making the stock its 28th biggest position. Nuance Investments LLC’s holdings in IDEX were worth $22,874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its position in IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 106 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of IDEX during the 3rd quarter valued at about $86,000. Assetmark Inc. raised its holdings in shares of IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after buying an additional 235 shares in the last quarter. Fred Alger Management LLC bought a new stake in IDEX in the 3rd quarter worth approximately $89,000. Finally, Millburn Ridgefield Corp grew its position in IDEX by 475.0% during the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 0.4 %

Shares of NYSE IEX opened at $184.33 on Wednesday. The firm has a fifty day simple moving average of $199.12 and a two-hundred day simple moving average of $209.78. The firm has a market capitalization of $13.97 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX Co. has a 12 month low of $177.71 and a 12 month high of $245.70.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Equities analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IEX shares. DA Davidson cut their price objective on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Citigroup reduced their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada lowered their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Stifel Nicolaus raised their price target on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.71.

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.