Hahn Capital Management LLC Decreases Position in IDEX Co. (NYSE:IEX)

Hahn Capital Management LLC cut its stake in shares of IDEX Co. (NYSE:IEX) by 33.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,754 shares of the industrial products company’s stock after selling 1,905 shares during the period. IDEX accounts for about 0.5% of Hahn Capital Management LLC’s portfolio, making the stock its 28th biggest position. Hahn Capital Management LLC’s holdings in IDEX were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IEX. EdgeRock Capital LLC purchased a new stake in shares of IDEX in the second quarter worth approximately $41,000. Whittier Trust Co. raised its holdings in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of 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 buying an additional 100 shares during the period. UMB Bank n.a. raised its holdings in shares of IDEX by 31.0% in 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. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of IDEX in the second quarter worth approximately $51,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Down 0.7 %

Shares of NYSE IEX opened at $203.48 on Friday. 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 stock has a market capitalization of $15.40 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The stock’s fifty day simple moving average is $205.83 and its two-hundred day simple moving average is $208.72. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last announced its earnings results 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. The business had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.18 EPS. As a group, analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given 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 1.36%. IDEX’s payout ratio is 36.32%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IEX shares. DA Davidson reduced their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Oppenheimer dropped their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Argus cut IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada dropped their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird dropped their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.43.

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.