DRW Securities LLC Takes Position in IDEX Co. (NYSE:IEX)

DRW Securities LLC bought a new position in shares of IDEX Co. (NYSE:IEX) in the third quarter, Holdings Channel reports. The institutional investor bought 1,395 shares of the industrial products company’s stock, valued at approximately $299,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC increased its holdings in shares of IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares in the last quarter. Assetmark Inc. acquired a new stake in IDEX during the 3rd quarter valued at $39,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares during the last quarter. EdgeRock Capital LLC acquired a new position in IDEX in the second quarter worth $41,000. Finally, Whittier Trust Co. grew its holdings in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Stock Performance

Shares of IDEX stock opened at $231.10 on Thursday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.50 and a beta of 0.96. The firm has a fifty day moving average of $216.30 and a two-hundred day moving average of $207.90.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. As a group, equities research analysts predict that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Oppenheimer reduced their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Robert W. Baird reduced their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price objective on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, DA Davidson lowered their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company 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 stock. According to MarketBeat.com, the company has a consensus 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.