Port Capital LLC Has $40.90 Million Holdings in IDEX Co. (NYSE:IEX)

Port Capital LLC increased its position in shares of IDEX Co. (NYSE:IEX) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,651 shares of the industrial products company’s stock after buying an additional 470 shares during the period. IDEX accounts for approximately 1.8% of Port Capital LLC’s investment portfolio, making the stock its 25th biggest position. Port Capital LLC owned approximately 0.25% of IDEX worth $40,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in shares of IDEX by 9,424.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after purchasing an additional 1,021,439 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of IDEX by 28.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after acquiring an additional 273,460 shares during the last quarter. Hsbc Holdings PLC raised its stake in IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after acquiring an additional 223,422 shares during the period. D. E. Shaw & Co. Inc. boosted its position in IDEX by 247.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock worth $39,872,000 after purchasing an additional 141,064 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of IDEX by 1,541.6% in the second quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock valued at $27,915,000 after purchasing an additional 130,292 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Robert W. Baird dropped their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. TD Cowen decreased their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Stifel Nicolaus upped their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Trading Down 0.6 %

Shares of IDEX stock opened at $230.52 on Wednesday. The firm’s 50-day moving average price is $218.46 and its two-hundred day moving average price is $208.16. The company has a market capitalization of $17.45 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.45 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last released its 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. The firm had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.12 earnings per share. On average, analysts forecast that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

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 given a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.20%. IDEX’s dividend payout ratio is currently 42.72%.

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.