Lombard Odier Asset Management Europe Ltd Invests $5.24 Million in IDEX Co. (NYSE:IEX)

Lombard Odier Asset Management Europe Ltd purchased a new position in IDEX Co. (NYSE:IEX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,031 shares of the industrial products company’s stock, valued at approximately $5,237,000.

Other institutional investors have also modified their holdings of the company. Riverview Trust Co bought a new position in IDEX in the first quarter worth about $35,000. Quarry LP bought a new position in shares of IDEX during the 4th quarter worth approximately $36,000. EdgeRock Capital LLC purchased a new stake in IDEX during the second quarter valued at approximately $41,000. Whittier Trust Co. boosted its stake 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 holdings 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 during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Trading Down 0.8 %

IEX stock opened at $208.73 on Monday. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36. The company’s 50-day simple moving average is $201.03 and its 200-day simple moving average is $213.48. The firm has a market cap of $15.80 billion, a P/E ratio of 27.46, a PEG ratio of 2.09 and a beta of 0.95.

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, topping the consensus estimate of $2.04 by $0.02. The business had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.18 EPS. As a group, equities analysts forecast that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, October 11th. IDEX’s payout ratio is 36.32%.

Analyst Ratings Changes

Several analysts have recently commented on IEX shares. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. TD Cowen dropped their target price 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 cut their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Robert W. Baird dropped their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Argus cut IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.50.

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.