Victory Capital Management Inc. Increases Position in IDEX Co. (NYSE:IEX)

Victory Capital Management Inc. boosted its position in IDEX Co. (NYSE:IEX) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,887 shares of the industrial products company’s stock after purchasing an additional 690 shares during the period. Victory Capital Management Inc. owned about 0.08% of IDEX worth $12,631,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IEX. Blair William & Co. IL lifted its holdings in IDEX by 6.3% in the first quarter. Blair William & Co. IL now owns 3,104 shares of the industrial products company’s stock worth $757,000 after buying an additional 183 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of IDEX by 33.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,752 shares of the industrial products company’s stock valued at $672,000 after buying an additional 689 shares in the last quarter. UniSuper Management Pty Ltd raised its position in IDEX by 418.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,795 shares of the industrial products company’s stock worth $1,170,000 after purchasing an additional 3,871 shares during the period. Bessemer Group Inc. raised its position in IDEX by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 1,179 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 82 shares during the period. Finally, Lake Street Advisors Group LLC bought a new position in IDEX in the 1st quarter worth about $243,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of NYSE IEX opened at $223.11 on Thursday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The stock has a market cap of $16.89 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 2.41 and a beta of 0.96. The company’s 50-day moving average price is $213.84 and its 200 day moving average price is $207.76. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. As a group, research analysts forecast that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IEX. DA Davidson lowered their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus lifted their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer dropped their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Robert W. Baird lowered their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, TD Cowen reduced their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, IDEX has an average rating of “Moderate Buy” and an average price target of $241.14.

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.