IDEX Co. (NYSE:IEX) Shares Sold by Hahn Capital Management LLC

Hahn Capital Management LLC decreased its holdings in IDEX Co. (NYSE:IEX) by 33.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,754 shares of the industrial products company’s stock after selling 1,905 shares during the quarter. IDEX comprises about 0.5% of Hahn Capital Management LLC’s portfolio, making the stock its 28th biggest position. Hahn Capital Management LLC’s holdings in IDEX were worth $805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. Park Avenue Securities LLC raised its stake in IDEX by 13.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,293 shares of the industrial products company’s stock worth $559,000 after acquiring an additional 278 shares during the last quarter. Ballentine Partners LLC purchased a new position in IDEX in the 1st quarter worth $201,000. Buffington Mohr McNeal raised its stake in IDEX by 3.7% in the 1st quarter. Buffington Mohr McNeal now owns 5,274 shares of the industrial products company’s stock worth $1,287,000 after acquiring an additional 188 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in IDEX by 1.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 183,945 shares of the industrial products company’s stock worth $44,886,000 after acquiring an additional 3,391 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new position in IDEX in the 1st quarter worth $243,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of IDEX stock opened at $203.48 on Friday. 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 business has a 50-day moving average price of $205.83 and a 200 day moving average price of $208.72. The firm has a market cap of $15.40 billion, a PE ratio of 26.77, 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 for the quarter, beating the consensus estimate of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same quarter in the previous year, the business earned $2.18 EPS. IDEX’s revenue for the quarter was down 4.6% compared to the same quarter last year. Sell-side analysts predict that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Announces Dividend

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 paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $2.76 annualized dividend and a dividend yield of 1.36%. IDEX’s dividend payout ratio is presently 36.32%.

Wall Street Analyst Weigh In

IEX has been the subject of a number of research analyst reports. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada reduced their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Robert W. Baird reduced their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Oppenheimer reduced their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $239.43.

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.