IDEX Corporation $IEX Stock Position Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its stake in shares of IDEX Corporation (NYSE:IEX) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,810 shares of the industrial products company’s stock after buying an additional 4,610 shares during the quarter. Nisa Investment Advisors LLC’s holdings in IDEX were worth $6,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IEX. GAMMA Investing LLC boosted its stake in IDEX by 49.0% during the first quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company’s stock valued at $166,000 after buying an additional 301 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in IDEX by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the industrial products company’s stock valued at $930,000 after purchasing an additional 214 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in IDEX by 9.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,930 shares of the industrial products company’s stock worth $1,977,000 after buying an additional 905 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in IDEX by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 172,732 shares of the industrial products company’s stock worth $31,259,000 after buying an additional 631 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of IDEX by 1.0% in the first quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company’s stock valued at $2,666,000 after buying an additional 141 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Performance

Shares of IEX stock opened at $166.90 on Wednesday. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The stock’s 50-day moving average is $164.00 and its two-hundred day moving average is $172.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. The firm has a market cap of $12.57 billion, a P/E ratio of 26.96, a PEG ratio of 1.77 and a beta of 1.04.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The business had revenue of $712.00 million during the quarter. Analysts predict that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, October 10th. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. IDEX’s dividend payout ratio is 45.88%.

IDEX announced that its Board of Directors has initiated a share buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IEX shares. DA Davidson set a $180.00 price target on IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Stifel Nicolaus decreased their target price on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a report on Monday, October 20th. Oppenheimer set a $210.00 target price on shares of IDEX in a research report on Tuesday, October 7th. Citigroup lifted their price objective on shares of IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.57.

About IDEX

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.