Thematics Asset Management Boosts Holdings in IDEX Co. (NYSE:IEX)

Thematics Asset Management increased its stake in IDEX Co. (NYSE:IEX) by 17.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,654 shares of the industrial products company’s stock after buying an additional 14,000 shares during the period. Thematics Asset Management owned 0.12% of IDEX worth $19,874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IEX. Champlain Investment Partners LLC increased its holdings in shares of IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of IDEX by 9,424.6% during the third 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 during the last quarter. King Luther Capital Management Corp raised its holdings in IDEX by 16.2% in the 3rd quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company’s stock worth $159,314,000 after acquiring an additional 103,432 shares during the last quarter. Fisher Asset Management LLC lifted its position in IDEX by 7.6% in the 3rd quarter. Fisher Asset Management LLC now owns 659,006 shares of the industrial products company’s stock valued at $141,357,000 after acquiring an additional 46,770 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in IDEX by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,443 shares of the industrial products company’s stock valued at $135,230,000 after purchasing an additional 4,629 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Price Performance

Shares of NYSE:IEX traded down $3.32 during mid-day trading on Tuesday, reaching $232.74. The stock had a trading volume of 65,415 shares, compared to its average volume of 480,925. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The business’s 50 day moving average price is $215.75 and its 200 day moving average price is $207.86. The company has a market cap of $17.62 billion, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 2.46 and a beta of 0.96.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same period in the previous year, the firm posted $2.12 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Research analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Analyst Ratings Changes

A number of analysts have recently issued reports on IEX shares. DA Davidson dropped their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Stifel Nicolaus upped their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their target price on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. TD Cowen dropped their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird reduced their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.