Ameriprise Financial Inc. cut its holdings in IDEX Co. (NYSE:IEX) by 40.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,083 shares of the industrial products company’s stock after selling 162,733 shares during the period. Ameriprise Financial Inc. owned about 0.31% of IDEX worth $28,555,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new position in IDEX in the second quarter valued at approximately $106,000. Strs Ohio purchased a new position in IDEX in the second quarter valued at approximately $112,000. Acrospire Investment Management LLC lifted its stake in IDEX by 1,000.0% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 1,000 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in IDEX in the second quarter valued at approximately $134,000. Finally, IHT Wealth Management LLC lifted its stake in IDEX by 258.5% in the second quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 380 shares during the last quarter. 97.02% of the stock is owned by institutional investors.
IDEX Co. (NYSE:IEX) traded down $0.86 during trading hours on Thursday, hitting $131.99. The company’s stock had a trading volume of 293,600 shares, compared to its average volume of 305,973. The stock has a market capitalization of $10,149.99, a P/E ratio of 32.01, a P/E/G ratio of 2.40 and a beta of 1.24. IDEX Co. has a 12-month low of $88.29 and a 12-month high of $135.70. The company has a current ratio of 2.84, a quick ratio of 2.04 and a debt-to-equity ratio of 0.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Monday, January 15th will be given a $0.37 dividend. The ex-dividend date is Thursday, January 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.12%. IDEX’s dividend payout ratio (DPR) is presently 37.95%.
Several equities analysts recently commented on the company. Seaport Global Securities reiterated a “neutral” rating on shares of IDEX in a research note on Wednesday, October 18th. Robert W. Baird reiterated a “buy” rating on shares of IDEX in a research note on Friday, October 20th. Oppenheimer reiterated a “hold” rating on shares of IDEX in a research note on Wednesday, October 18th. Royal Bank Of Canada increased their target price on IDEX from $124.00 to $126.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 18th. Finally, SunTrust Banks restated a “hold” rating and set a $118.00 target price on shares of IDEX in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. IDEX has an average rating of “Hold” and a consensus price target of $113.78.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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