ExodusPoint Capital Management LP purchased a new position in shares of IDEX Co. (NYSE:IEX – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,223 shares of the industrial products company’s stock, valued at approximately $17,269,000. ExodusPoint Capital Management LP owned approximately 0.11% of IDEX at the end of the most recent quarter.
Several other large investors also recently modified their holdings of IEX. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of IDEX by 76,485.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,860,655 shares of the industrial products company’s stock worth $831,045,000 after buying an additional 3,855,614 shares during the last quarter. Morgan Stanley lifted its stake in shares of IDEX by 274.1% during the 4th quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock worth $491,214,000 after buying an additional 1,576,263 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEX by 34.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,409,590 shares of the industrial products company’s stock worth $1,018,749,000 after buying an additional 1,139,638 shares during the last quarter. Norges Bank acquired a new stake in shares of IDEX during the 4th quarter worth about $226,556,000. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of IDEX during the 2nd quarter worth about $61,822,000. 94.85% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Citigroup lifted their price objective on shares of IDEX from $243.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. BNP Paribas assumed coverage on shares of IDEX in a research note on Thursday, October 5th. They issued a “neutral” rating and a $200.00 price objective for the company. Argus lifted their price objective on shares of IDEX from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. StockNews.com assumed coverage on shares of IDEX in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of IDEX in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.73.
IDEX Price Performance
Shares of NYSE:IEX opened at $195.72 on Tuesday. The firm has a 50 day moving average of $201.09 and a 200-day moving average of $209.12. The stock has a market capitalization of $14.80 billion, a PE ratio of 24.10, a PEG ratio of 2.03 and a beta of 0.97. The company has a current ratio of 3.11, a quick ratio of 2.20 and a debt-to-equity ratio of 0.39. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.23.
IDEX (NYSE:IEX – Get Free Report) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.89 by $0.23. The company had revenue of $793.40 million during the quarter, compared to analysts’ expectations of $792.54 million. IDEX had a net margin of 18.74% and a return on equity of 19.71%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.14 EPS. On average, equities research analysts predict that IDEX Co. will post 8.17 EPS for the current fiscal year.
IDEX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, January 11th. IDEX’s dividend payout ratio (DPR) is presently 31.53%.
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.
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