Assetmark Inc. Takes Position in IDEX Co. (NYSE:IEX)

Assetmark Inc. bought a new stake in IDEX Co. (NYSE:IEX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 182 shares of the industrial products company’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp lifted its stake in IDEX by 9,424.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after buying an additional 1,021,439 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in IDEX by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after acquiring an additional 555,250 shares during the period. Hsbc Holdings PLC raised its holdings in IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after acquiring an additional 223,422 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in IDEX by 247.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after buying an additional 141,064 shares during the period. Finally, Millennium Management LLC raised its stake in IDEX by 1,541.6% during the second quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock worth $27,915,000 after purchasing an additional 130,292 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Trading Down 0.5 %

NYSE:IEX opened at $226.66 on Tuesday. The business has a fifty day moving average of $212.80 and a 200-day moving average of $207.63. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36.

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 the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same period last year, the firm posted $2.12 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Equities analysts predict that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.22%. IDEX’s dividend payout ratio (DPR) is 42.72%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Oppenheimer decreased their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. DA Davidson dropped their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. TD Cowen dropped 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. Royal Bank of Canada increased their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird reduced 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.14.

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.