Mather Group LLC. Buys New Shares in IDEX Co. (NYSE:IEX)

Mather Group LLC. purchased a new position in IDEX Co. (NYSE:IEX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 504 shares of the industrial products company’s stock, valued at approximately $123,000.

Several other large investors have also made changes to their positions in IEX. Nomura Holdings Inc. purchased a new position in shares of IDEX in the fourth quarter worth $332,000. HighPoint Advisor Group LLC purchased a new stake in IDEX in the 4th quarter worth $323,000. Quadrature Capital Ltd boosted its holdings in shares of IDEX by 29.6% during the 4th quarter. Quadrature Capital Ltd now owns 12,685 shares of the industrial products company’s stock valued at $2,755,000 after purchasing an additional 2,898 shares during the last quarter. Wahed Invest LLC increased its holdings in shares of IDEX by 8.0% in the fourth quarter. Wahed Invest LLC now owns 1,289 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 96 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of IDEX by 3.8% in the fourth quarter. Fisher Asset Management LLC now owns 429,021 shares of the industrial products company’s stock worth $93,145,000 after buying an additional 15,633 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Down 0.2 %

Shares of NYSE IEX opened at $202.72 on Friday. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a 50-day simple moving average of $215.87 and a two-hundred day simple moving average of $221.26. The company has a market cap of $15.34 billion, a P/E ratio of 26.67, a PEG ratio of 2.03 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The company had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. During the same quarter in the previous year, the business earned $2.09 EPS. IDEX’s revenue was down 5.3% compared to the same quarter last year. Research analysts anticipate that IDEX Co. will post 8.31 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.36%. IDEX’s payout ratio is 36.32%.

Analyst Ratings Changes

A number of analysts have issued reports on IEX shares. Robert W. Baird reduced their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Oppenheimer boosted their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.71.

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.