IDEX Co. (NYSE:IEX) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in IDEX Co. (NYSE:IEX) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,054 shares of the industrial products company’s stock after buying an additional 459 shares during the quarter. CIBC Asset Management Inc’s holdings in IDEX were worth $5,160,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC grew its position in IDEX by 9.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,684 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 142 shares in the last quarter. ING Groep NV grew its position in IDEX by 174.7% during the 3rd quarter. ING Groep NV now owns 60,125 shares of the industrial products company’s stock worth $12,897,000 after purchasing an additional 38,239 shares in the last quarter. Metis Global Partners LLC grew its position in IDEX by 9.3% during the 3rd quarter. Metis Global Partners LLC now owns 8,364 shares of the industrial products company’s stock worth $1,794,000 after purchasing an additional 714 shares in the last quarter. Curi RMB Capital LLC grew its position in IDEX by 15.8% during the 3rd quarter. Curi RMB Capital LLC now owns 67,435 shares of the industrial products company’s stock worth $14,465,000 after purchasing an additional 9,180 shares in the last quarter. Finally, Huntington National Bank grew its position in IDEX by 22.5% during the 3rd quarter. Huntington National Bank now owns 631 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IEX shares. Robert W. Baird decreased their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Oppenheimer decreased their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. DA Davidson decreased their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Finally, TD Cowen decreased their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Stock Down 0.7 %

IDEX stock opened at $227.83 on Monday. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 2.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The firm has a fifty day moving average price of $212.21 and a two-hundred day moving average price of $207.58.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the firm posted $2.12 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, analysts forecast that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.21%. IDEX’s payout ratio is 42.72%.

IDEX Company 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.