IDEX Corporation $IEX Shares Sold by MQS Management LLC

MQS Management LLC lessened its position in shares of IDEX Corporation (NYSE:IEX) by 44.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,372 shares of the industrial products company’s stock after selling 1,105 shares during the quarter. MQS Management LLC’s holdings in IDEX were worth $241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amalgamated Bank raised its stake in shares of IDEX by 1.0% during the 1st quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company’s stock worth $2,666,000 after buying an additional 141 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of IDEX by 49.0% during the 1st quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company’s stock worth $166,000 after buying an additional 301 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of IDEX during the 1st quarter worth $909,000. Sequoia Financial Advisors LLC acquired a new position in shares of IDEX during the 2nd quarter worth $275,000. Finally, Swedbank AB raised its stake in shares of IDEX by 16.2% during the 1st quarter. Swedbank AB now owns 55,396 shares of the industrial products company’s stock worth $10,025,000 after buying an additional 7,726 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IEX. Oppenheimer set a $210.00 target price on shares of IDEX in a research note on Tuesday, October 7th. DA Davidson set a $180.00 target price on shares of IDEX and gave the company a “neutral” rating in a research note on Monday, August 4th. Stifel Nicolaus cut 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. Citigroup boosted their target price on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.57.

IDEX Stock Down 0.1%

Shares of NYSE:IEX opened at $167.74 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 3.05. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The stock has a market capitalization of $12.63 billion, a P/E ratio of 27.10, a PEG ratio of 1.77 and a beta of 1.04. The stock has a 50-day simple moving average of $163.98 and a 200-day simple moving average of $172.16.

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

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, October 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.7%. IDEX’s payout ratio is presently 45.88%.

IDEX declared that its board has approved a stock repurchase program 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 purchase up to 8.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.