Verdence Capital Advisors LLC Has $310,000 Stock Holdings in IDEX Corporation $IEX

Verdence Capital Advisors LLC boosted its holdings in shares of IDEX Corporation (NYSE:IEX) by 9.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,768 shares of the industrial products company’s stock after acquiring an additional 148 shares during the period. Verdence Capital Advisors LLC’s holdings in IDEX were worth $310,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in IDEX by 257.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 103 shares during the period. American National Bank & Trust acquired a new stake in IDEX during the 2nd quarter worth $25,000. Steph & Co. acquired a new stake in IDEX during the 2nd quarter worth $42,000. SVB Wealth LLC acquired a new stake in IDEX during the 1st quarter worth $56,000. Finally, Federated Hermes Inc. grew its holdings in IDEX by 42.9% during the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Price Performance

Shares of NYSE IEX opened at $163.34 on Thursday. The firm has a market cap of $12.30 billion, a PE ratio of 26.39, a PEG ratio of 1.73 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The company has a fifty day moving average price of $163.28 and a 200 day moving average price of $172.36.

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

IDEX announced that its Board of Directors has approved a stock repurchase program on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.84 annualized dividend and a yield of 1.7%. IDEX’s payout ratio is 45.88%.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of analyst reports. Citigroup lifted their target price on shares of IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Royal Bank Of Canada reduced their price target 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. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Oppenheimer set a $210.00 price target on shares of IDEX in a research report on Tuesday, October 7th. Finally, DA Davidson set a $180.00 price target on shares of IDEX and gave the stock a “neutral” rating in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.43.

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.