Nomura Holdings Inc. Acquires New Position in IDEX Co. (NYSE:IEX)

Nomura Holdings Inc. acquired a new stake in IDEX Co. (NYSE:IEX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,530 shares of the industrial products company’s stock, valued at approximately $332,000.

A number of other hedge funds have also recently modified their holdings of the company. Planned Solutions Inc. purchased a new position in IDEX during the fourth quarter worth about $33,000. Quarry LP purchased a new position in IDEX during the fourth quarter worth about $36,000. EdgeRock Capital LLC purchased a new position in IDEX during the fourth quarter worth about $48,000. VisionPoint Advisory Group LLC purchased a new position in IDEX during the fourth quarter worth about $50,000. Finally, Headlands Technologies LLC purchased a new position in IDEX during the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 0.2 %

Shares of NYSE:IEX opened at $202.70 on Friday. The firm’s 50 day moving average price is $215.87 and its 200 day moving average price is $221.39. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. During the same quarter last year, the company earned $2.09 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts predict that IDEX Co. will post 8.31 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a dividend of $0.69 per share. The ex-dividend date 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 currently 36.32%.

Analyst Ratings Changes

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

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.