Northwest & Ethical Investments L.P. Sells 2,248 Shares of IDEX Corporation $IEX

Northwest & Ethical Investments L.P. reduced its stake in IDEX Corporation (NYSE:IEX) by 1.9% in the 2nd quarter, Holdings Channel reports. The firm owned 113,506 shares of the industrial products company’s stock after selling 2,248 shares during the period. Northwest & Ethical Investments L.P.’s holdings in IDEX were worth $19,928,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Investments LLC grew its holdings in IDEX by 5.2% during the first quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 54 shares during the last quarter. Empowered Funds LLC grew its stake in IDEX by 3.4% in the 1st quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock valued at $298,000 after buying an additional 54 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in IDEX by 2.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,112 shares of the industrial products company’s stock valued at $546,000 after buying an additional 60 shares during the last quarter. Blue Trust Inc. raised its holdings in IDEX by 21.5% in the 2nd quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 79 shares during the period. Finally, Federated Hermes Inc. raised its holdings in IDEX by 42.9% in 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 own 97.96% of the company’s stock.

IDEX Price Performance

Shares of NYSE:IEX opened at $173.63 on Wednesday. The firm has a market capitalization of $13.00 billion, a PE ratio of 27.47, a PEG ratio of 1.83 and a beta of 1.04. The company has a current ratio of 2.93, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $235.65. The business’s 50 day moving average is $165.64 and its 200-day moving average is $171.49.

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

IDEX announced that its board has authorized a share buyback plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

IDEX Dividend Announcement

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

Analyst Upgrades and Downgrades

IEX has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Royal Bank Of Canada cut their price objective on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Stifel Nicolaus lowered their target price on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a report on Monday, October 20th. DA Davidson set a $180.00 price target on IDEX and gave the stock a “neutral” rating in a report on Monday, August 4th. Finally, Oppenheimer set a $210.00 price objective on IDEX in a research report on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.