King Luther Capital Management Corp Reduces Stock Holdings in IDEX Co. (NYSE:IEX)

King Luther Capital Management Corp lowered its position in shares of IDEX Co. (NYSE:IEX) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 639,292 shares of the industrial products company’s stock after selling 5,132 shares during the period. King Luther Capital Management Corp owned approximately 0.84% of IDEX worth $128,626,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Riverview Trust Co acquired a new position in IDEX in the 1st quarter worth $35,000. Quarry LP acquired a new stake in shares of IDEX during the fourth quarter worth approximately $36,000. EdgeRock Capital LLC bought a new stake in shares of IDEX in the second quarter worth $41,000. Whittier Trust Co. raised its holdings in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Oppenheimer decreased their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Argus cut IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird lowered their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada cut their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.50.

IDEX Trading Up 2.4 %

NYSE:IEX opened at $210.50 on Friday. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The business has a fifty day moving average of $200.80 and a 200-day moving average of $214.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.09 and a beta of 0.95.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, beating the consensus estimate of $2.04 by $0.02. The firm had revenue of $807.20 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $2.18 EPS. Equities analysts predict that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.69 dividend. The ex-dividend date is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a yield of 1.31%. IDEX’s dividend payout ratio (DPR) is 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.