Sepio Capital LP Sells 1,148 Shares of IDEX Corporation $IEX

Sepio Capital LP trimmed its position in IDEX Corporation (NYSE:IEX) by 22.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,910 shares of the industrial products company’s stock after selling 1,148 shares during the period. Sepio Capital LP’s holdings in IDEX were worth $686,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in shares of IDEX by 24.3% during the 2nd quarter. New York State Common Retirement Fund now owns 73,694 shares of the industrial products company’s stock valued at $12,938,000 after buying an additional 14,427 shares in the last quarter. Schroder Investment Management Group grew its holdings in IDEX by 16.5% in the second quarter. Schroder Investment Management Group now owns 315,160 shares of the industrial products company’s stock worth $55,333,000 after purchasing an additional 44,561 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of IDEX during the second quarter valued at approximately $33,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of IDEX by 1.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 16,223 shares of the industrial products company’s stock valued at $2,848,000 after purchasing an additional 220 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of IDEX in the 2nd quarter worth approximately $156,009,000. Institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Oppenheimer set a $210.00 price target on IDEX in a research report on Tuesday, October 7th. Royal Bank Of Canada lowered their price target on IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Stifel Nicolaus dropped their price objective on shares of IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Finally, DA Davidson set a $180.00 price target on shares of IDEX and gave the stock a “neutral” rating in a research report on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.

IDEX Trading Up 0.4%

Shares of IEX stock opened at $174.62 on Tuesday. The company has a current ratio of 2.93, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $13.07 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $231.93. The stock’s 50-day moving average price is $166.69 and its 200-day moving average price is $171.04.

IDEX (NYSE:IEX) last released its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. The business had revenue of $712.00 million for the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. Equities research analysts predict that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, January 16th. IDEX’s payout ratio is presently 44.94%.

IDEX announced that its board has authorized a stock buyback plan on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.