EdgeRock Capital LLC Makes New $48,000 Investment in IDEX Co. (NYSE:IEX)

EdgeRock Capital LLC bought a new stake in IDEX Co. (NYSE:IEX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 217 shares of the industrial products company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Planned Solutions Inc. bought a new stake in shares of IDEX during the fourth quarter worth $33,000. Headlands Technologies LLC bought a new stake in shares of IDEX during the fourth quarter worth about $52,000. Compagnie Lombard Odier SCmA acquired a new position in shares of IDEX in the fourth quarter valued at approximately $54,000. Cary Street Partners Investment Advisory LLC raised its holdings in IDEX by 30.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock valued at $71,000 after buying an additional 80 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. boosted its position in IDEX by 25.6% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after buying an additional 79 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 0.1 %

Shares of IDEX stock traded up $0.32 on Wednesday, hitting $222.07. 338,154 shares of the company’s stock traded hands, compared to its average volume of 380,762. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a fifty day moving average of $234.66 and a two-hundred day moving average of $217.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. IDEX Co. has a one year low of $183.76 and a one year high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same quarter last year, the firm posted $2.09 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts expect that IDEX Co. will post 8.33 earnings per share for the current year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from IDEX’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a dividend yield of 1.24%. IDEX’s dividend payout ratio (DPR) is currently 33.68%.

Wall Street Analyst Weigh In

IEX has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Oppenheimer lifted their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Robert W. Baird reduced their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $250.71.

About IDEX

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.