M&T Bank Corp Sells 46 Shares of IDEX Co. (NYSE:IEX)

M&T Bank Corp cut its position in IDEX Co. (NYSE:IEX) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,203 shares of the industrial products company’s stock after selling 46 shares during the quarter. M&T Bank Corp’s holdings in IDEX were worth $4,386,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IEX. Alecta Tjanstepension Omsesidigt grew its position in shares of IDEX by 420.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after acquiring an additional 631,172 shares during the period. Ameriprise Financial Inc. increased its position in IDEX by 316.9% during the third quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock worth $76,667,000 after buying an additional 280,385 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in IDEX by 6,079.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 189,143 shares of the industrial products company’s stock valued at $41,065,000 after buying an additional 186,082 shares during the period. Nordea Investment Management AB lifted its position in shares of IDEX by 1,196.4% in the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock valued at $29,598,000 after buying an additional 125,348 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its stake in shares of IDEX by 112.4% during the 4th quarter. Boston Trust Walden Corp now owns 201,152 shares of the industrial products company’s stock worth $43,672,000 after acquiring an additional 106,431 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IEX. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Robert W. Baird cut their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Finally, Citigroup lifted their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.71.

IDEX Price Performance

IEX stock opened at $222.15 on Tuesday. The business has a 50-day simple moving average of $234.94 and a two-hundred day simple moving average of $217.68. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a market capitalization of $16.81 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same period in the previous year, the firm earned $2.09 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Research analysts expect that IDEX Co. will post 8.33 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.