Exchange Traded Concepts LLC Grows Holdings in IDEX Co. (NYSE:IEX)

Exchange Traded Concepts LLC boosted its holdings in shares of IDEX Co. (NYSE:IEX) by 31.0% in the fourth quarter, HoldingsChannel reports. The fund owned 10,914 shares of the industrial products company’s stock after acquiring an additional 2,582 shares during the period. Exchange Traded Concepts LLC’s holdings in IDEX were worth $2,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IEX. Guinness Asset Management LTD increased its position in IDEX by 4.0% during the 4th quarter. Guinness Asset Management LTD now owns 2,408 shares of the industrial products company’s stock valued at $504,000 after buying an additional 93 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of IDEX by 23.1% during the fourth quarter. HB Wealth Management LLC now owns 1,157 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 217 shares in the last quarter. Albert D Mason Inc. raised its position in shares of IDEX by 1.3% in the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock worth $948,000 after purchasing an additional 56 shares during the last quarter. Covea Finance boosted its stake in IDEX by 70.6% in the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock worth $3,035,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in IDEX by 27.0% during the 4th quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock valued at $488,000 after purchasing an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IEX. Robert W. Baird cut 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. Citigroup lowered their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada boosted their target price on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus lifted their price objective on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.86.

IDEX Stock Down 0.8 %

Shares of IEX opened at $220.22 on Monday. 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 52-week low of $189.51 and a 52-week high of $246.36. The company has a market cap of $16.68 billion, a PE ratio of 34.09, a P/E/G ratio of 2.17 and a beta of 0.97. The business has a fifty day moving average of $219.36 and a 200 day moving average of $211.38.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 EPS. On average, sell-side analysts expect that IDEX Co. will post 7.89 EPS for the current year.

IDEX Announces Dividend

The firm 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 1.25%. The ex-dividend date is Friday, January 17th. IDEX’s 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.