IDEX Corporation $IEX Position Reduced by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP trimmed its position in IDEX Corporation (NYSE:IEX) by 1.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 438,664 shares of the industrial products company’s stock after selling 6,539 shares during the period. Westfield Capital Management Co. LP’s holdings in IDEX were worth $77,016,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc grew its position in IDEX by 0.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 302,866 shares of the industrial products company’s stock valued at $53,174,000 after buying an additional 1,137 shares in the last quarter. Sierra Legacy Group purchased a new position in IDEX in the 2nd quarter worth about $718,000. Primecap Management Co. CA grew its holdings in shares of IDEX by 80.1% during the 2nd quarter. Primecap Management Co. CA now owns 493,451 shares of the industrial products company’s stock valued at $86,635,000 after acquiring an additional 219,501 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of IDEX by 0.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 24,658 shares of the industrial products company’s stock worth $4,329,000 after purchasing an additional 204 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in IDEX by 72.7% during the second quarter. Duff & Phelps Investment Management Co. now owns 53,246 shares of the industrial products company’s stock valued at $9,348,000 after acquiring an additional 22,411 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Up 0.5%

IEX opened at $162.51 on Thursday. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $237.38. The company has a market capitalization of $12.16 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.93 and a quick ratio of 2.13. The firm’s fifty day moving average price is $165.09 and its two-hundred day moving average price is $171.92.

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

IDEX announced that its Board of Directors has authorized a share 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 repurchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, January 16th. IDEX’s dividend payout ratio (DPR) is 44.94%.

Analyst Ratings Changes

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

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.