Ensign Peak Advisors Inc Cuts Stock Position in IDEX Co. (NYSE:IEX)

Ensign Peak Advisors Inc decreased its holdings in IDEX Co. (NYSE:IEX) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,280 shares of the industrial products company’s stock after selling 2,981 shares during the period. Ensign Peak Advisors Inc owned 0.33% of IDEX worth $50,759,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co bought a new position in IDEX in the 1st quarter worth approximately $35,000. Quarry LP bought a new position in IDEX during the fourth quarter valued at approximately $36,000. EdgeRock Capital LLC purchased a new position in IDEX during the 2nd quarter valued at approximately $41,000. Whittier Trust Co. increased its stake in 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. boosted its position 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 acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

IEX stock opened at $208.73 on Friday. 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 business has a 50-day moving average price of $201.03 and a 200 day moving average price of $213.64. The company has a market capitalization 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 quarterly 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 firm had revenue of $807.20 million during 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%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.18 EPS. As a group, equities research analysts forecast that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IEX. Robert W. Baird reduced their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Argus cut IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. 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 report on Thursday, July 18th. TD Cowen lowered their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Oppenheimer reduced 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. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.