Forsta AP Fonden Buys 4,900 Shares of IDEX Co. (NYSE:IEX)

Forsta AP Fonden boosted its stake in shares of IDEX Co. (NYSE:IEX) by 27.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,500 shares of the industrial products company’s stock after buying an additional 4,900 shares during the quarter. Forsta AP Fonden’s holdings in IDEX were worth $4,527,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in IEX. Norges Bank bought a new position in IDEX during the fourth quarter valued at about $237,425,000. Price T Rowe Associates Inc. MD boosted its position in IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after purchasing an additional 555,250 shares during the period. Public Employees Retirement Association of Colorado boosted its position in IDEX by 4,080.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock worth $68,113,000 after purchasing an additional 306,221 shares during the period. Maren Capital LLC bought a new position in IDEX during the fourth quarter worth about $49,789,000. Finally, Nordea Investment Management AB boosted its position in IDEX by 151.9% during the first quarter. Nordea Investment Management AB now owns 342,170 shares of the industrial products company’s stock worth $83,767,000 after purchasing an additional 206,345 shares during the period. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IEX. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Stifel Nicolaus cut their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Oppenheimer cut their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Robert W. Baird cut their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, IDEX has an average rating of “Moderate Buy” and a consensus target price of $233.50.

IDEX Trading Up 0.8 %

Shares of IEX opened at $199.78 on Friday. The firm’s 50 day simple moving average is $200.32 and its 200 day simple moving average is $214.71. The company has a market capitalization of $15.12 billion, a P/E ratio of 26.29, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.18 earnings per share. Sell-side analysts forecast that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, July 12th. IDEX’s dividend payout ratio is currently 36.32%.

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.