Metis Global Partners LLC Acquires 714 Shares of IDEX Co. (NYSE:IEX)

Metis Global Partners LLC lifted its position in shares of IDEX Co. (NYSE:IEX) by 9.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,364 shares of the industrial products company’s stock after purchasing an additional 714 shares during the quarter. Metis Global Partners LLC’s holdings in IDEX were worth $1,794,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC increased its position 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 valued at $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. bought a new stake in shares of IDEX during the third quarter valued at about $39,000. EdgeRock Capital LLC purchased a new stake in IDEX in the 2nd quarter worth approximately $41,000. Whittier Trust Co. raised its position 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 in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Price Performance

IEX stock opened at $227.83 on Friday. The company has a market capitalization of $17.25 billion, a PE ratio of 35.27, a P/E/G ratio of 2.44 and a beta of 0.96. 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’s fifty day moving average price is $212.21 and its 200 day moving average price is $207.77. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share. On average, sell-side analysts anticipate that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Ratings Changes

Several research analysts have recently commented on IEX shares. Oppenheimer decreased their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Robert W. Baird reduced their target price 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. DA Davidson cut their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada increased their price target on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Argus lowered IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.