IDEX Corporation $IEX Stock Position Lifted by Groupama Asset Managment

Groupama Asset Managment raised its stake in IDEX Corporation (NYSE:IEX) by 80.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,194 shares of the industrial products company’s stock after buying an additional 4,558 shares during the quarter. Groupama Asset Managment’s holdings in IDEX were worth $1,797,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its stake in shares of IDEX by 0.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 62,440 shares of the industrial products company’s stock worth $10,963,000 after acquiring an additional 420 shares during the last quarter. Russell Investments Group Ltd. boosted its position in IDEX by 69.1% during the second quarter. Russell Investments Group Ltd. now owns 75,801 shares of the industrial products company’s stock valued at $13,315,000 after purchasing an additional 30,970 shares during the last quarter. Laurel Wealth Advisors LLC grew its stake in IDEX by 17,457.3% in the second quarter. Laurel Wealth Advisors LLC now owns 26,336 shares of the industrial products company’s stock valued at $4,624,000 after purchasing an additional 26,186 shares in the last quarter. Weitz Investment Management Inc. increased its position in IDEX by 1.2% in the 2nd quarter. Weitz Investment Management Inc. now owns 406,225 shares of the industrial products company’s stock worth $71,321,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in IDEX by 7.9% in the 2nd quarter. Prudential Financial Inc. now owns 43,179 shares of the industrial products company’s stock worth $7,581,000 after purchasing an additional 3,151 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE:IEX opened at $173.93 on Friday. The firm has a market capitalization of $13.02 billion, a PE ratio of 27.52, a PEG ratio of 1.83 and a beta of 1.04. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $232.31. The company has a current ratio of 2.93, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47. The firm’s fifty day simple moving average is $166.41 and its 200 day simple moving average is $171.40.

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

IDEX declared that its Board of Directors has approved a share repurchase program on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 8.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 dividend on an annualized basis and a yield of 1.6%. IDEX’s dividend payout ratio (DPR) is 44.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IEX shares. Oppenheimer set a $210.00 price target on IDEX in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Stifel Nicolaus reduced their target price on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Royal Bank Of Canada dropped their price target on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Finally, DA Davidson set a $180.00 price target on shares of IDEX and gave the company a “neutral” rating in a report on Monday, August 4th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $198.86.

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.