King Luther Capital Management Corp Grows Position in IDEX Co. (NYSE:IEX)

King Luther Capital Management Corp increased its holdings in IDEX Co. (NYSE:IEX) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 743,768 shares of the industrial products company’s stock after acquiring an additional 1,044 shares during the quarter. King Luther Capital Management Corp owned approximately 0.98% of IDEX worth $155,663,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC lifted its position in shares of IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock valued at $205,000 after buying an additional 45 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after buying an additional 48 shares in the last quarter. Albert D Mason Inc. lifted its position in shares of IDEX by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after buying an additional 56 shares in the last quarter. Diversified Trust Co lifted its position in shares of IDEX by 1.0% during the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after buying an additional 59 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC lifted its position in shares of IDEX by 2.7% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock valued at $481,000 after buying an additional 60 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

IDEX Price Performance

Shares of NYSE IEX opened at $186.39 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. IDEX Co. has a fifty-two week low of $183.24 and a fifty-two week high of $246.36. The firm has a market capitalization of $14.13 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The stock’s 50-day simple moving average is $204.73 and its 200-day simple moving average is $211.26.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, equities research analysts forecast that IDEX Co. will post 8.26 EPS for the current fiscal year.

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.