Teacher Retirement System of Texas raised its holdings in shares of IDEX Co. (NYSE:IEX) by 469.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,274 shares of the industrial products company’s stock after purchasing an additional 20,837 shares during the quarter. Teacher Retirement System of Texas’ holdings in IDEX were worth $3,335,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in IDEX by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 1,026,720 shares of the industrial products company’s stock valued at $124,716,000 after purchasing an additional 34,391 shares during the last quarter. Impax Asset Management LTD lifted its holdings in IDEX by 4.6% during the third quarter. Impax Asset Management LTD now owns 949,167 shares of the industrial products company’s stock valued at $115,295,000 after purchasing an additional 41,883 shares during the last quarter. Brown Advisory Inc. lifted its holdings in IDEX by 6.1% during the third quarter. Brown Advisory Inc. now owns 410,323 shares of the industrial products company’s stock valued at $49,842,000 after purchasing an additional 23,669 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in IDEX by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 381,993 shares of the industrial products company’s stock valued at $46,403,000 after purchasing an additional 3,092 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in IDEX by 0.8% during the third quarter. Allianz Asset Management GmbH now owns 320,021 shares of the industrial products company’s stock valued at $38,873,000 after purchasing an additional 2,488 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on IEX shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $132.00 price objective on shares of IDEX in a report on Thursday, December 14th. Robert W. Baird reissued a “buy” rating and issued a $141.00 price target on shares of IDEX in a report on Friday, December 15th. Zacks Investment Research downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Wells Fargo & Co set a $155.00 price target on shares of IDEX and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, UBS Group began coverage on shares of IDEX in a report on Monday, January 22nd. They issued a “neutral” rating on the stock. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $133.40.
Shares of IDEX Co. (IEX) opened at $137.35 on Monday. IDEX Co. has a fifty-two week low of $89.69 and a fifty-two week high of $148.32. The stock has a market cap of $10,493.79, a PE ratio of 31.87, a PEG ratio of 2.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.78 and a quick ratio of 2.06.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Monday, January 29th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. The firm had revenue of $585.90 million for the quarter, compared to the consensus estimate of $573.47 million. IDEX had a net margin of 14.74% and a return on equity of 18.88%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. research analysts predict that IDEX Co. will post 5.07 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Monday, January 15th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, January 11th. IDEX’s dividend payout ratio is currently 33.95%.
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IDEX Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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