Mutual of America Capital Management LLC Sells 224 Shares of IDEX Co. (NYSE:IEX)

Mutual of America Capital Management LLC lessened its stake in IDEX Co. (NYSE:IEX) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,325 shares of the industrial products company’s stock after selling 224 shares during the quarter. Mutual of America Capital Management LLC’s holdings in IDEX were worth $2,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of IEX. Catalyst Capital Advisors LLC raised its position in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. bought a new stake in shares of IDEX in the third quarter worth $39,000. EdgeRock Capital LLC purchased a new stake in IDEX during the second quarter valued at $41,000. Whittier Trust Co. lifted its holdings in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted 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 worth $43,000 after purchasing an additional 100 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Up 2.2 %

IEX opened at $232.50 on Monday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $215.08 and a two-hundred day simple moving average of $207.77. The company has a market capitalization of $17.61 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 0.96.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same period in the prior year, the firm earned $2.12 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. 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. Shareholders of record on Friday, January 17th will be paid 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 yield of 1.19%. IDEX’s payout ratio is currently 42.72%.

Analysts Set New Price Targets

IEX has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird decreased their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. DA Davidson decreased their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Finally, TD Cowen lowered their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $241.14.

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.