Thematics Asset Management Boosts Stock Position in IDEX Co. (NYSE:IEX)

Thematics Asset Management lifted its position in IDEX Co. (NYSE:IEX) by 17.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 92,654 shares of the industrial products company’s stock after buying an additional 14,000 shares during the period. Thematics Asset Management’s holdings in IDEX were worth $19,874,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC grew its holdings in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. purchased a new position in IDEX during the 3rd quarter worth $39,000. EdgeRock Capital LLC acquired a new position in IDEX during the 2nd quarter valued at about $41,000. Whittier Trust Co. raised its stake in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IEX. Stifel Nicolaus upped their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada raised their target price on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Robert W. Baird decreased their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. TD Cowen cut their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Oppenheimer lowered their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEX presently has an average rating of “Moderate Buy” and an average price target of $241.14.

IDEX Price Performance

IEX traded down $3.32 during trading on Tuesday, reaching $232.74. The company’s stock had a trading volume of 65,415 shares, compared to its average volume of 480,925. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.46 and a beta of 0.96. The firm has a fifty day simple moving average of $215.75 and a two-hundred day simple moving average of $207.86. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter last year, the firm earned $2.12 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts anticipate that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

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.