Diversified Trust Co Acquires 1,354 Shares of IDEX Co. (NYSE:IEX)

Diversified Trust Co increased its stake in IDEX Co. (NYSE:IEX) by 28.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,151 shares of the industrial products company’s stock after purchasing an additional 1,354 shares during the period. Diversified Trust Co’s holdings in IDEX were worth $1,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co bought a new position in shares of IDEX in the 1st quarter worth $35,000. Quarry LP purchased a new position in shares of IDEX in the 4th quarter worth about $36,000. EdgeRock Capital LLC bought a new position in IDEX during the second quarter valued at approximately $41,000. Whittier Trust Co. lifted its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $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 Price Performance

IEX stock opened at $208.41 on Wednesday. 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. The firm has a 50-day moving average of $202.39 and a 200 day moving average of $210.99. The company has a market cap of $15.78 billion, a P/E ratio of 27.42, a PEG ratio of 2.22 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 analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 EPS. On average, sell-side analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

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

Analyst Ratings Changes

Several research firms have issued reports on IEX. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. TD Cowen lowered their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Oppenheimer lowered their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Stifel Nicolaus decreased their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.29.

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.