Two Sigma Advisers LP Sells 24,900 Shares of IDEX Co. (NYSE:IEX)

Two Sigma Advisers LP cut its position in IDEX Co. (NYSE:IEX) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,300 shares of the industrial products company’s stock after selling 24,900 shares during the quarter. Two Sigma Advisers LP owned about 0.55% of IDEX worth $88,653,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Boston Trust Walden Corp lifted its holdings in IDEX by 3.3% during the second quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company’s stock valued at $45,047,000 after purchasing an additional 7,222 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of IDEX by 247.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after buying an additional 141,064 shares in the last quarter. Qsemble Capital Management LP bought a new position in IDEX in the 2nd quarter worth approximately $3,627,000. Marshall Wace LLP grew its stake in IDEX by 162.1% in the 2nd quarter. Marshall Wace LLP now owns 101,558 shares of the industrial products company’s stock valued at $20,433,000 after buying an additional 62,803 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in IDEX by 2.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company’s stock valued at $36,041,000 after acquiring an additional 4,465 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IEX shares. Argus cut IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Stifel Nicolaus lifted their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird lowered their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price objective on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.14.

IDEX Stock Up 0.3 %

Shares of NYSE IEX opened at $228.47 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $218.83 and a 200-day moving average of $208.30. The firm has a market capitalization of $17.30 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 2.44 and a beta of 0.96. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping 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 firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the prior year, the firm earned $2.12 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts expect that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

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

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.