IDEX Corporation $IEX Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in shares of IDEX Corporation (NYSE:IEX) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 280,459 shares of the industrial products company’s stock after purchasing an additional 11,309 shares during the period. King Luther Capital Management Corp owned 0.38% of IDEX worth $63,939,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC purchased a new position in shares of IDEX during the third quarter valued at $1,705,000. Freestone Grove Partners LP acquired a new position in IDEX during the second quarter valued at $102,523,000. Envestnet Portfolio Solutions Inc. acquired a new position in IDEX during the second quarter valued at $1,344,000. Hsbc Holdings PLC lifted its stake in IDEX by 35.6% in the 2nd quarter. Hsbc Holdings PLC now owns 403,063 shares of the industrial products company’s stock worth $91,474,000 after acquiring an additional 105,902 shares in the last quarter. Finally, Korea Investment CORP purchased a new stake in IDEX in the 2nd quarter worth about $7,563,000. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. KeyCorp raised IDEX to a “hold” rating in a research note on Monday, October 12th. Stifel Nicolaus increased their price target on shares of IDEX from $267.00 to $273.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Oppenheimer increased their price target on shares of IDEX from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. DA Davidson set a $245.00 price target on shares of IDEX in a report on Thursday, October 29th. Finally, Mizuho raised shares of IDEX from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $210.00 to $280.00 in a research report on Tuesday, August 11th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and an average target price of $263.64.

IDEX Price Performance

Shares of NYSE:IEX opened at $239.93 on Thursday. The company has a current ratio of 2.78, a quick ratio of 1.95 and a debt-to-equity ratio of 0.44. IDEX Corporation has a 1 year low of $160.60 and a 1 year high of $243.80. The business has a fifty day simple moving average of $230.52 and a 200 day simple moving average of $217.53. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 2.65 and a beta of 0.95.

IDEX (NYSE:IEX) last released its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.09. IDEX had a return on equity of 16.18% and a net margin of 14.65%. The firm had revenue of $951.70 million during the quarter, compared to analysts’ expectations of $934.36 million. During the same quarter last year, the firm earned $2.03 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that IDEX Corporation will post 8.95 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 13th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, January 13th. IDEX’s payout ratio is currently 40.56%.

IDEX Company Profile

IDEX Corporation is a diversified manufacturer of engineered products and technologies used in industrial, life sciences, fire and safety, and other specialized markets. Its offerings include pumps, valves, flow meters and dispensing equipment, as well as components and instruments used in fluidics, medical technology and scientific applications. The company also supplies fire and rescue equipment, including tools and water-handling products. IDEX serves customers around the world through its operating businesses, which sell products for applications ranging from manufacturing and energy to healthcare and emergency response.