Mountain Pacific Investment Advisers LLC Increases Stake in IDEX Co. (NYSE:IEX)

Mountain Pacific Investment Advisers LLC boosted its position in IDEX Co. (NYSE:IEX) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 244,409 shares of the industrial products company’s stock after acquiring an additional 3,564 shares during the period. IDEX accounts for 3.6% of Mountain Pacific Investment Advisers LLC’s portfolio, making the stock its 6th largest position. Mountain Pacific Investment Advisers LLC owned 0.32% of IDEX worth $52,426,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in IDEX in the first quarter valued at about $35,000. Quarry LP bought a new position in IDEX in the fourth quarter valued at approximately $36,000. EdgeRock Capital LLC bought a new position in IDEX in the second quarter valued at approximately $41,000. Whittier Trust Co. boosted its stake in shares of IDEX by 38.4% during 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 period. Finally, UMB Bank n.a. boosted its stake 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 worth $48,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Price Performance

NYSE IEX opened at $207.71 on Thursday. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The business’s fifty day moving average price is $202.38 and its 200-day moving average price is $210.97. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.22 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 (NYSE:IEX) last issued its quarterly earnings data 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 firm had revenue of $807.20 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 earnings per share. On average, equities analysts predict that IDEX Co. will post 7.88 earnings per share for the current 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 issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.33%. IDEX’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IEX. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. TD Cowen dropped their target price on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus decreased their target price on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Robert W. Baird reduced 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.29.

IDEX Company 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.