IDEX Corporation $IEX Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in IDEX Corporation (NYSE:IEX) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 177,973 shares of the industrial products company’s stock after buying an additional 5,870 shares during the period. Rhumbline Advisers’ holdings in IDEX were worth $31,247,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP raised its holdings in IDEX by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company’s stock valued at $914,007,000 after buying an additional 831,005 shares during the period. Geode Capital Management LLC boosted its stake in IDEX by 1.5% during the second quarter. Geode Capital Management LLC now owns 2,000,861 shares of the industrial products company’s stock worth $349,869,000 after buying an additional 29,353 shares during the period. Invesco Ltd. increased its position in shares of IDEX by 15.4% during the first quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company’s stock valued at $279,682,000 after acquiring an additional 206,633 shares during the last quarter. Amundi raised its stake in shares of IDEX by 23.4% in the 1st quarter. Amundi now owns 1,249,546 shares of the industrial products company’s stock valued at $220,849,000 after acquiring an additional 236,650 shares during the period. Finally, Fenimore Asset Management Inc lifted its holdings in shares of IDEX by 2.0% in the 2nd quarter. Fenimore Asset Management Inc now owns 872,652 shares of the industrial products company’s stock worth $153,211,000 after acquiring an additional 16,701 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Up 0.1%

Shares of NYSE IEX opened at $173.82 on Thursday. The stock has a market cap of $13.01 billion, a P/E ratio of 27.50, a PEG ratio of 1.83 and a beta of 1.04. The business’s fifty day simple moving average is $165.92 and its 200-day simple moving average is $171.51. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $233.15. 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 (NYSE:IEX) last released 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. As a group, equities analysts predict that IDEX Corporation will post 8.26 EPS for the current fiscal year.

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

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid 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 is Friday, January 16th. IDEX’s dividend payout ratio is presently 44.94%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IEX shares. Oppenheimer set a $210.00 target price on shares of IDEX in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Stifel Nicolaus cut their price objective 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 target price on IDEX and gave the stock a “neutral” rating in a research note on Monday, August 4th. Finally, Royal Bank Of Canada dropped their target price on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.86.

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.