Vontobel Holding Ltd. Sells 435 Shares of IDEX Corporation $IEX

Vontobel Holding Ltd. reduced its stake in shares of IDEX Corporation (NYSE:IEX) by 1.7% in the second quarter, HoldingsChannel.com reports. The fund owned 25,607 shares of the industrial products company’s stock after selling 435 shares during the quarter. Vontobel Holding Ltd.’s holdings in IDEX were worth $4,496,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS lifted its stake in IDEX by 5.9% in the second quarter. KLP Kapitalforvaltning AS now owns 27,100 shares of the industrial products company’s stock worth $4,758,000 after purchasing an additional 1,500 shares during the last quarter. Regency Capital Management Inc. DE bought a new stake in IDEX in the second quarter worth $871,000. Fenimore Asset Management Inc lifted its stake in IDEX by 2.0% in the second quarter. Fenimore Asset Management Inc now owns 872,652 shares of the industrial products company’s stock worth $153,211,000 after purchasing an additional 16,701 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in IDEX by 58.5% in the second quarter. DAVENPORT & Co LLC now owns 1,932 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 713 shares during the last quarter. Finally, 111 Capital bought a new stake in IDEX in the second quarter worth $839,000. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

IEX stock opened at $161.12 on Friday. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $238.22. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $163.12 and its two-hundred day moving average price is $172.78. The stock has a market capitalization of $12.13 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.75 and a beta of 1.04.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The company had revenue of $712.00 million for the quarter. As a group, equities analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, October 10th. This represents a $2.84 annualized dividend and a dividend yield of 1.8%. IDEX’s payout ratio is currently 45.88%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Citigroup boosted their price target on shares of IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Oppenheimer set a $210.00 price target on shares of IDEX in a research note on Tuesday. Stifel Nicolaus decreased their price objective on shares of IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. DA Davidson set a $180.00 price objective on shares of IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Finally, Royal Bank Of Canada decreased their price objective on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $201.43.

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.