Versor Investments LP Increases Stock Holdings in IDEX Corporation $IEX

Versor Investments LP boosted its position in shares of IDEX Corporation (NYSE:IEX) by 247.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,991 shares of the industrial products company’s stock after acquiring an additional 3,553 shares during the quarter. Versor Investments LP’s holdings in IDEX were worth $876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its position in IDEX by 257.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. American National Bank & Trust acquired a new stake in IDEX in the 2nd quarter valued at about $25,000. Steph & Co. acquired a new stake in IDEX in the 2nd quarter valued at about $42,000. SVB Wealth LLC acquired a new position in IDEX during the 1st quarter worth approximately $56,000. Finally, Federated Hermes Inc. increased its position in shares of IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 100 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Royal Bank Of Canada dropped their price objective on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Stifel Nicolaus cut their target price on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Citigroup raised their target price on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $198.86.

IDEX Trading Up 0.7%

IEX opened at $171.56 on Monday. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $238.22. The business’s 50 day moving average is $164.42 and its two-hundred day moving average is $172.29. The company has a quick ratio of 2.13, a current ratio of 2.93 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX) last released its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The company had revenue of $712.00 million for the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. On average, research analysts predict that IDEX Corporation will post 8.26 EPS for the current year.

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

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.84 annualized dividend and a yield of 1.7%. IDEX’s payout ratio is 44.94%.

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.