Inspire Advisors LLC Buys Shares of 3,492 IDEX Co. (NYSE:IEX)

Inspire Advisors LLC bought a new position in shares of IDEX Co. (NYSE:IEX) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 3,492 shares of the industrial products company’s stock, valued at approximately $749,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Stifel Nicolaus increased their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada cut their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research report 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 for the company in a research report on Wednesday, August 7th. DA Davidson reduced their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Finally, Oppenheimer lowered their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average target price of $239.43.

IDEX Price Performance

Shares of NYSE IEX opened at $210.47 on Friday. The company has a market capitalization of $15.93 billion, a PE ratio of 27.69, a P/E/G ratio of 2.20 and a beta of 0.95. 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 twelve month low of $183.76 and a twelve month high of $246.36. The firm has a fifty day simple moving average of $204.81 and a 200 day simple moving average of $209.62.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. The company 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 company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 EPS. On average, sell-side analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.69 per share. The ex-dividend date is Friday, October 11th. This represents a $2.76 annualized dividend and a dividend yield of 1.31%. IDEX’s dividend payout ratio is 36.32%.

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.