IDEX Corporation $IEX Stake Lessened by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of IDEX Corporation (NYSE:IEX) by 92.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,165 shares of the industrial products company’s stock after selling 14,471 shares during the quarter. SG Americas Securities LLC’s holdings in IDEX were worth $190,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in shares of IDEX by 3.4% during the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 54 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in IDEX by 2.0% during the second quarter. Cullen Frost Bankers Inc. now owns 3,112 shares of the industrial products company’s stock valued at $546,000 after buying an additional 60 shares in the last quarter. Blue Trust Inc. lifted its holdings in IDEX by 21.5% during the 2nd quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock worth $78,000 after buying an additional 79 shares during the last quarter. Mediolanum International Funds Ltd grew its position in shares of IDEX by 1.4% in the 2nd quarter. Mediolanum International Funds Ltd now owns 8,540 shares of the industrial products company’s stock worth $1,506,000 after acquiring an additional 116 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of IDEX by 9.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,403 shares of the industrial products company’s stock valued at $246,000 after acquiring an additional 123 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer set a $210.00 price objective on IDEX in a research note on Tuesday, October 7th. Citigroup raised their price target on shares of IDEX from $197.00 to $202.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. TD Cowen reissued a “buy” rating on shares of IDEX in a report on Wednesday, December 3rd. Finally, Stifel Nicolaus upped their target price on IDEX from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average target price of $203.29.

IDEX Trading Up 1.6%

Shares of IEX stock opened at $199.57 on Friday. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $226.04. The firm has a market capitalization of $14.94 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00. The stock has a fifty day moving average of $182.56 and a two-hundred day moving average of $172.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.93.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.10. The business had revenue of $878.70 million for the quarter, compared to analysts’ expectations of $861.44 million. IDEX had a net margin of 13.97% and a return on equity of 15.20%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. As a group, research analysts expect that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, January 16th. IDEX’s dividend payout ratio (DPR) is currently 44.94%.

IDEX Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.