KLP Kapitalforvaltning AS Invests $5.38 Million in IDEX Co. (NYSE:IEX)

KLP Kapitalforvaltning AS acquired a new stake in IDEX Co. (NYSE:IEX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,700 shares of the industrial products company’s stock, valued at approximately $5,379,000.

A number of other large investors also recently bought and sold shares of IEX. Bleakley Financial Group LLC increased its position in shares of IDEX by 4.1% during the fourth quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 48 shares during the last quarter. Albert D Mason Inc. raised its position in IDEX by 1.3% in the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after purchasing an additional 56 shares during the period. Diversified Trust Co lifted its stake in IDEX by 1.0% during the fourth quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after purchasing an additional 59 shares in the last quarter. Blackston Financial Advisory Group LLC boosted its position in shares of IDEX by 2.7% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock worth $481,000 after buying an additional 60 shares during the period. Finally, Signal Advisors Wealth LLC grew its stake in shares of IDEX by 3.6% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company’s stock valued at $381,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Down 0.4 %

Shares of NYSE:IEX opened at $184.33 on Wednesday. The company has a market cap of $13.97 billion, a PE ratio of 27.72, a P/E/G ratio of 1.98 and a beta of 0.99. The company’s 50 day moving average is $199.12 and its two-hundred day moving average is $209.78. IDEX Co. has a 52 week low of $177.71 and a 52 week high of $245.70. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Equities analysts predict that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IEX. DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lowered their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus upped their target price on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Citigroup decreased their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $241.71.

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.