Guinness Asset Management LTD Buys 93 Shares of IDEX Co. (NYSE:IEX)

Guinness Asset Management LTD lifted its position in IDEX Co. (NYSE:IEX) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,408 shares of the industrial products company’s stock after acquiring an additional 93 shares during the quarter. Guinness Asset Management LTD’s holdings in IDEX were worth $504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC grew its position in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. Assetmark Inc. purchased a new position in shares of IDEX in the 3rd quarter worth approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 57 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in IDEX during the third quarter worth $86,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX stock opened at $215.67 on Monday. The firm’s 50 day moving average is $220.31 and its 200 day moving average is $210.54. The stock has a market capitalization of $16.33 billion, a P/E ratio of 33.39, a PEG ratio of 2.03 and a beta of 0.97. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last posted 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 return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the company earned $2.12 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that IDEX Co. will post 7.89 earnings per share for the current year.

IDEX Announces Dividend

The business also recently declared 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. This represents a $2.76 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is presently 42.72%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IEX shares. Citigroup decreased their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada raised their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Robert W. Baird dropped their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Stifel Nicolaus raised their price target on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.86.

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.