Impax Asset Management Group plc Decreases Holdings in IDEX Co. (NYSE:IEX)

Impax Asset Management Group plc reduced its position in IDEX Co. (NYSE:IEX) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,891,967 shares of the industrial products company’s stock after selling 69,015 shares during the period. IDEX makes up about 1.6% of Impax Asset Management Group plc’s investment portfolio, making the stock its 17th biggest position. Impax Asset Management Group plc owned approximately 2.50% of IDEX worth $405,827,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in shares of IDEX in the 2nd quarter worth approximately $41,000. Whittier Trust Co. increased its stake in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. lifted its position in IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in IDEX during the second quarter valued at about $51,000. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

NYSE:IEX traded up $4.49 during trading hours on Monday, reaching $220.54. The stock had a trading volume of 169,828 shares, compared to its average volume of 466,106. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 2.97. The stock has a market capitalization of $16.69 billion, a PE ratio of 33.44, a PEG ratio of 2.27 and a beta of 0.96. IDEX Co. has a 52 week low of $189.33 and a 52 week high of $246.36. The company has a 50 day moving average price of $207.06 and a two-hundred day moving average price of $207.50.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the prior year, the firm earned $2.12 earnings per share. IDEX’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that IDEX Co. will post 7.87 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.69 dividend. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.25%. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Stifel Nicolaus raised their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upped their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday. Robert W. Baird reduced their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, DA Davidson lowered their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $241.14.

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.