Old Mutual Global Investors UK Ltd. purchased a new stake in IDEX Co. (NYSE:IEX) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,200 shares of the industrial products company’s stock, valued at approximately $290,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Toronto Dominion Bank acquired a new position in IDEX in the 2nd quarter valued at $106,000. Calton & Associates Inc. acquired a new position in IDEX in the 4th quarter valued at $160,000. Stock Yards Bank & Trust Co. acquired a new position in IDEX in the 4th quarter valued at $201,000. Community Bank N.A. acquired a new position in IDEX in the 4th quarter valued at $203,000. Finally, Advisor Partners LLC acquired a new position in IDEX in the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 97.29% of the company’s stock.
IDEX Co. (NYSE IEX) opened at $137.35 on Monday. IDEX Co. has a fifty-two week low of $89.69 and a fifty-two week high of $148.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.78 and a quick ratio of 2.06. The stock has a market capitalization of $10,493.79, a PE ratio of 31.87, a price-to-earnings-growth ratio of 2.08 and a beta of 1.25.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Monday, January 15th were given 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 1.08%. IDEX’s dividend payout ratio (DPR) is presently 33.95%.
Several brokerages have weighed in on IEX. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $162.00 price objective for the company in a report on Friday, February 2nd. SunTrust Banks boosted their price target on IDEX to $145.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on IDEX to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Wells Fargo & Co reissued a “positive” rating and set a $165.00 price target (up previously from $155.00) on shares of IDEX in a report on Wednesday, January 31st. Finally, Cowen reissued a “hold” rating and set a $120.00 price target on shares of IDEX in a report on Sunday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $133.40.
IDEX Company Profile
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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