Bamco Inc. NY Trims Stock Position in IDEX Co. (NYSE:IEX)

Bamco Inc. NY lowered its stake in IDEX Co. (NYSE:IEX) by 12.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 276,961 shares of the industrial products company’s stock after selling 37,651 shares during the quarter. Bamco Inc. NY’s holdings in IDEX were worth $59,408,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IEX. Studio Investment Management LLC lifted its stake in IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 45 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 57 shares in the last quarter. Whittier Trust Co. increased 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 worth $42,000 after buying an additional 58 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its holdings 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 in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IEX has been the subject of several research reports. DA Davidson dropped their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus boosted their target price on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. TD Cowen lowered their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird reduced 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Trading Up 0.5 %

IEX opened at $231.81 on Tuesday. The business’s 50-day simple moving average is $217.66 and its 200-day simple moving average is $208.03. The company has a market cap of $17.55 billion, a P/E ratio of 35.61, a PEG ratio of 2.44 and a beta of 0.96. IDEX Co. has a one year low of $189.51 and a one year high of $246.36. 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 issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the prior year, the business posted $2.12 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts expect that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently announced 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. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s payout ratio is currently 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.