Champlain Investment Partners LLC lessened its holdings in IDEX Co. (NYSE:IEX) by 12.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 532,105 shares of the industrial products company’s stock after selling 74,955 shares during the period. Champlain Investment Partners LLC’s holdings in IDEX were worth $70,222,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in IEX. BlackRock Inc. lifted its position in IDEX by 4.7% during the fourth quarter. BlackRock Inc. now owns 7,338,809 shares of the industrial products company’s stock worth $968,504,000 after purchasing an additional 331,466 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in IDEX by 14,670.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 175,174 shares of the industrial products company’s stock worth $23,117,000 after purchasing an additional 173,988 shares during the period. First Trust Advisors LP lifted its position in IDEX by 70.7% during the third quarter. First Trust Advisors LP now owns 293,014 shares of the industrial products company’s stock worth $35,592,000 after purchasing an additional 121,367 shares during the period. KBC Group NV lifted its position in IDEX by 183.8% during the third quarter. KBC Group NV now owns 156,346 shares of the industrial products company’s stock worth $18,991,000 after purchasing an additional 101,265 shares during the period. Finally, First Quadrant L P CA bought a new stake in IDEX during the fourth quarter worth about $11,462,000. 97.29% of the stock is owned by institutional investors.
IEX has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $132.00 price objective on shares of IDEX in a research report on Thursday, December 14th. Robert W. Baird reaffirmed a “buy” rating and set a $141.00 price objective on shares of IDEX in a research report on Friday, December 15th. Zacks Investment Research cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Wells Fargo & Co set a $155.00 price objective on shares of IDEX and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, UBS Group initiated coverage on shares of IDEX in a research report on Monday, January 22nd. They set a “neutral” rating for the company. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $133.40.
IDEX (NYSE:IEX) last posted its earnings results on Monday, January 29th. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. The firm had revenue of $585.90 million during the quarter, compared to analysts’ expectations of $573.47 million. IDEX had a net margin of 14.74% and a return on equity of 18.88%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. equities research analysts forecast that IDEX Co. will post 5.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Monday, January 15th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.04%. IDEX’s dividend payout ratio (DPR) is currently 33.95%.
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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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