Cadent Capital Advisors LLC Purchases Shares of 1,482 IDEX Co. (NYSE:IEX)

Cadent Capital Advisors LLC acquired a new position in IDEX Co. (NYSE:IEX) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,482 shares of the industrial products company’s stock, valued at approximately $318,000.

Several other large investors have also made changes to their positions in IEX. Riverview Trust Co bought a new position in IDEX in the 1st quarter worth approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt increased 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 acquiring an additional 100 shares during the period. EdgeRock Capital LLC acquired a new position in IDEX during the 2nd quarter valued at $41,000. Whittier Trust Co. grew its position in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the last quarter. Finally, UMB Bank n.a. grew its position in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

IDEX stock opened at $210.53 on Friday. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The stock has a fifty day moving average price of $204.81 and a two-hundred day moving average price of $209.41. The firm has a market capitalization of $15.94 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.20 and a beta of 0.95.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The firm had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. As a group, analysts anticipate that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.69 per share. The ex-dividend date is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a yield of 1.31%. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analysts Forecast Growth

IEX has been the subject of several research reports. Oppenheimer reduced their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada decreased their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TD Cowen decreased their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus increased their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, IDEX has an average rating of “Moderate Buy” and an average target price of $239.43.

IDEX Company 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.