2,338 Shares in IDEX Co. (NYSE:IEX) Purchased by Allstate Corp

Allstate Corp purchased a new stake in IDEX Co. (NYSE:IEX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,338 shares of the industrial products company’s stock, valued at approximately $489,000.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 106 shares during the last quarter. Assetmark Inc. grew its holdings in shares of IDEX by 129.1% during the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 235 shares during the last quarter. Millburn Ridgefield Corp increased its stake in shares of IDEX by 475.0% in the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after buying an additional 380 shares in the last quarter. BankPlus Trust Department bought a new position in shares of IDEX in the fourth quarter valued at about $123,000. Finally, EverSource Wealth Advisors LLC lifted its position in IDEX by 49.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock worth $123,000 after buying an additional 196 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

IDEX Stock Performance

IEX stock opened at $181.18 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX Co. has a twelve month low of $176.39 and a twelve month high of $242.09. The business’s fifty day moving average is $195.70 and its 200-day moving average is $209.23. The company has a market cap of $13.69 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) 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%. Equities research analysts forecast that IDEX Co. will post 8.26 EPS for the current 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.