Quantbot Technologies LP Boosts Stake in IDEX Co. (NYSE:IEX)

Quantbot Technologies LP increased its holdings in IDEX Co. (NYSE:IEX) by 316.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,903 shares of the industrial products company’s stock after acquiring an additional 19,677 shares during the quarter. Quantbot Technologies LP’s holdings in IDEX were worth $5,212,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Riverview Trust Co bought a new stake in shares of IDEX in the first quarter worth $35,000. Quarry LP acquired a new stake in shares of IDEX in the 4th quarter valued at about $36,000. EdgeRock Capital LLC bought a new position in shares of IDEX during the second quarter worth about $41,000. Whittier Trust Co. grew its stake in 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 purchasing an additional 58 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 0.8 %

NYSE:IEX opened at $199.78 on Monday. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The stock has a fifty day simple moving average of $200.32 and a 200 day simple moving average of $214.56.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same period in the prior year, the firm earned $2.18 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts forecast that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is currently 36.32%.

Analysts Set New Price Targets

Several brokerages have recently commented on IEX. DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Oppenheimer decreased their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Robert W. Baird cut their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $233.50.

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.