KLP Kapitalforvaltning AS Buys 1,500 Shares of IDEX Corporation $IEX

KLP Kapitalforvaltning AS increased its stake in IDEX Corporation (NYSE:IEX) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,100 shares of the industrial products company’s stock after purchasing an additional 1,500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in IDEX were worth $4,758,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IEX. UMB Bank n.a. raised its holdings in IDEX by 63.5% in the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 87 shares during the period. GAMMA Investing LLC raised its holdings in IDEX by 49.0% in the 1st quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 301 shares during the period. SG Americas Securities LLC raised its holdings in IDEX by 329.0% in the 1st quarter. SG Americas Securities LLC now owns 9,193 shares of the industrial products company’s stock worth $1,664,000 after purchasing an additional 7,050 shares during the period. Assenagon Asset Management S.A. raised its holdings in IDEX by 39.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 96,361 shares of the industrial products company’s stock worth $17,438,000 after purchasing an additional 27,501 shares during the period. Finally, RMR Wealth Builders raised its holdings in IDEX by 5.1% in the 1st quarter. RMR Wealth Builders now owns 1,511 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 74 shares during the period. 97.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IEX shares. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a report on Wednesday. Citigroup raised their price target on IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a report on Monday, July 14th. Royal Bank Of Canada decreased their price target on IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Oppenheimer set a $210.00 price target on IDEX in a report on Tuesday. Finally, Stifel Nicolaus decreased their price target on IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.43.

IDEX Trading Down 2.9%

Shares of IDEX stock opened at $161.12 on Friday. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.75 and a beta of 1.04. The business has a 50-day moving average price of $163.12 and a 200-day moving average price of $172.78. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. The firm had revenue of $712.00 million during the quarter. IDEX had a return on equity of 15.16% and a net margin of 14.05%. Equities research analysts anticipate that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a $0.71 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.84 annualized dividend and a yield of 1.8%. IDEX’s dividend payout ratio (DPR) is currently 45.88%.

IDEX declared that its board has approved a stock buyback program on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 8.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

IDEX 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.