DRW Securities LLC Takes Position in IDEX Co. (NYSE:IEX)

DRW Securities LLC acquired a new position in IDEX Co. (NYSE:IEX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,395 shares of the industrial products company’s stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IEX. Catalyst Capital Advisors LLC boosted its stake in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. acquired a new stake in IDEX in the 3rd quarter worth approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. EdgeRock Capital LLC acquired a new position in IDEX during the second quarter valued at approximately $41,000. Finally, Whittier Trust Co. lifted its stake in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of NYSE IEX opened at $231.10 on Thursday. IDEX Co. has a one year low of $189.51 and a one year high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $216.30 and a 200 day simple moving average of $207.90. The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.50 and a beta of 0.96.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping 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 company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same period last year, the firm earned $2.12 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s payout ratio is 42.72%.

Analyst Ratings Changes

A number of research analysts recently issued reports on IEX shares. Royal Bank of Canada raised their target price on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Oppenheimer cut their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. DA Davidson cut their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Finally, Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $241.14.

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.