Studio Investment Management LLC Buys 45 Shares of IDEX Co. (NYSE:IEX)

Studio Investment Management LLC increased its stake in shares of IDEX Co. (NYSE:IEX) by 4.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 955 shares of the industrial products company’s stock after purchasing an additional 45 shares during the quarter. Studio Investment Management LLC’s holdings in IDEX were worth $205,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC raised its stake 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 valued at $30,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. purchased a new position in IDEX during the 3rd quarter valued at about $39,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in IDEX by 100.0% during 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 purchased a new stake in IDEX in the 2nd quarter worth approximately $41,000. Finally, Whittier Trust Co. grew its position 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 buying an additional 58 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Trading Up 2.2 %

Shares of NYSE IEX opened at $232.50 on Friday. The stock has a market cap of $17.60 billion, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 2.40 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 1 year low of $189.51 and a 1 year high of $246.36. The firm has a 50-day moving average of $215.08 and a 200 day moving average of $207.96.

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

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid 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 yield of 1.19%. IDEX’s dividend payout ratio is 42.72%.

Analysts Set New Price Targets

A number of equities analysts recently commented on IEX shares. Oppenheimer decreased their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Robert W. Baird decreased their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. DA Davidson cut 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. Royal Bank of Canada increased their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.14.

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.