King Luther Capital Management Corp Grows Stock Position in IDEX Co. (NYSE:IEX)

King Luther Capital Management Corp raised its stake in shares of IDEX Co. (NYSE:IEX) by 16.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 742,724 shares of the industrial products company’s stock after buying an additional 103,432 shares during the period. King Luther Capital Management Corp’s holdings in IDEX were worth $159,314,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IEX. Price T Rowe Associates Inc. MD grew its position in shares of IDEX by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after acquiring an additional 555,250 shares during the period. Van ECK Associates Corp grew its position in shares of IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after acquiring an additional 1,021,439 shares during the period. Hsbc Holdings PLC boosted its position in IDEX by 75.6% during the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after acquiring an additional 223,422 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in IDEX by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock valued at $94,698,000 after acquiring an additional 78,551 shares in the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in IDEX by 4.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company’s stock valued at $93,640,000 after acquiring an additional 20,175 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE IEX opened at $223.11 on Thursday. The company has a market cap of $16.89 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.36 and a beta of 0.96. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The stock has a 50-day moving average of $213.84 and a two-hundred day moving average of $207.76.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the previous year, the business posted $2.12 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts anticipate that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

IEX has been the topic of a number of recent research reports. TD Cowen lowered their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird dropped their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus lifted their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Oppenheimer reduced their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and a consensus price target of $241.14.

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.