Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Position in IDEX Co. (NYSE:IEX)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in IDEX Co. (NYSE:IEX) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,527 shares of the industrial products company’s stock after buying an additional 118 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in IDEX were worth $1,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IEX. Riverview Trust Co acquired a new stake in IDEX during the first quarter worth $35,000. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the 2nd quarter worth about $41,000. Whittier Trust Co. raised its holdings in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Down 0.6 %

Shares of NYSE IEX opened at $209.32 on Tuesday. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36. The stock has a market cap of $15.84 billion, a P/E ratio of 27.54, a PEG ratio of 2.20 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $204.81 and its 200-day simple moving average is $209.20.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same quarter last year, the business posted $2.18 EPS. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, equities analysts predict that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed 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 payout ratio is 36.32%.

Wall Street Analyst Weigh In

IEX has been the topic of several recent analyst reports. Oppenheimer decreased their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Robert W. Baird cut their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. TD Cowen cut their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.43.

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.