BluePath Capital Management LLC Invests $209,000 in IDEX Co. (NYSE:IEX)

BluePath Capital Management LLC purchased a new position in shares of IDEX Co. (NYSE:IEX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 974 shares of the industrial products company’s stock, valued at approximately $209,000.

A number of other large investors also recently bought and sold shares of IEX. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the 2nd quarter worth $41,000. Whittier Trust Co. boosted its position in IDEX by 38.4% during 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 period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. boosted its position in IDEX by 31.0% during 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 period. Finally, Mascoma Wealth Management LLC purchased a new stake in IDEX during the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 0.7 %

Shares of NYSE:IEX opened at $216.05 on Friday. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.32 and a beta of 0.95. IDEX Co. has a 1-year low of $189.33 and a 1-year high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 2.97. The company has a 50 day moving average price of $207.06 and a 200 day moving average price of $207.65.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same period last year, the firm posted $2.12 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts anticipate that IDEX Co. will post 7.86 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s dividend payout ratio is 42.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. DA Davidson dropped their price target 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. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Oppenheimer dropped their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, TD Cowen dropped 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

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.