IDEX Corporation $IEX Shares Acquired by iSAM Funds UK Ltd

iSAM Funds UK Ltd raised its holdings in IDEX Corporation (NYSE:IEX) by 198.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,098 shares of the industrial products company’s stock after buying an additional 10,041 shares during the period. iSAM Funds UK Ltd’s holdings in IDEX were worth $2,651,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in IDEX during the second quarter worth approximately $156,009,000. Wellington Management Group LLP raised its holdings in IDEX by 19.7% during the first quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company’s stock worth $914,007,000 after purchasing an additional 831,005 shares in the last quarter. Millennium Management LLC lifted its position in shares of IDEX by 1,232.4% during the 1st quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company’s stock worth $88,182,000 after buying an additional 450,704 shares during the last quarter. Flossbach Von Storch SE boosted its holdings in shares of IDEX by 132.8% in the 2nd quarter. Flossbach Von Storch SE now owns 640,792 shares of the industrial products company’s stock valued at $112,504,000 after buying an additional 365,525 shares in the last quarter. Finally, Amundi boosted its holdings in shares of IDEX by 23.4% in the 1st quarter. Amundi now owns 1,249,546 shares of the industrial products company’s stock valued at $220,849,000 after buying an additional 236,650 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 0.9%

Shares of NYSE IEX opened at $175.94 on Tuesday. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $231.74. The firm has a 50-day moving average price of $168.36 and a 200 day moving average price of $170.72. The company has a quick ratio of 2.06, a current ratio of 2.93 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX) last issued its earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. The company had revenue of $712.00 million for the quarter. Equities research analysts anticipate that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

The company 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, January 16th. IDEX’s dividend payout ratio (DPR) is presently 44.94%.

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

Wall Street Analyst Weigh In

IEX has been the subject of a number of research reports. Stifel Nicolaus reduced their price target on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Royal Bank Of Canada decreased their price objective on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Oppenheimer set a $210.00 target price on shares of IDEX in a report on Tuesday, October 7th. Citigroup increased their price target on shares of IDEX from $197.00 to $202.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Cowen restated a “buy” rating on shares of IDEX in a research note on Wednesday, December 3rd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.86.

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.