Guidance Capital Inc. acquired a new position in IDEX Co. (NYSE:IEX – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,048 shares of the industrial products company’s stock, valued at approximately $890,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IEX. Catalyst Capital Advisors LLC grew its holdings in shares of IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares in the last quarter. Assetmark Inc. purchased a new position in IDEX during the 3rd quarter valued at about $39,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares during the period. Brooklyn Investment Group purchased a new stake in shares of IDEX in the third quarter worth approximately $86,000. Finally, Fred Alger Management LLC acquired a new stake in shares of IDEX during the third quarter worth approximately $89,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.
IDEX Stock Performance
NYSE:IEX opened at $218.45 on Wednesday. The firm has a market capitalization of $16.54 billion, a PE ratio of 33.82, a PEG ratio of 2.21 and a beta of 0.97. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The firm’s fifty day simple moving average is $218.29 and its 200 day simple moving average is $212.10.
IDEX Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, January 17th. IDEX’s dividend payout ratio (DPR) is currently 42.72%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Citigroup dropped their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus lifted their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird lowered their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, IDEX presently has an average rating of “Moderate Buy” and a consensus price target of $242.86.
Read Our Latest Analysis on IEX
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.
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