Sumitomo Mitsui DS Asset Management Company Ltd Buys 219 Shares of IDEX Co. (NYSE:IEX)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in IDEX Co. (NYSE:IEX) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,746 shares of the industrial products company’s stock after purchasing an additional 219 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in IDEX were worth $1,621,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IEX. Catalyst Capital Advisors LLC grew its holdings 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 acquiring an additional 59 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of IDEX during the third quarter worth about $39,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake 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 purchasing an additional 100 shares during the last quarter. Brooklyn Investment Group purchased a new position in IDEX during the 3rd quarter valued at about $86,000. Finally, Fred Alger Management LLC bought a new position in IDEX during the 3rd quarter valued at approximately $89,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IEX. Citigroup decreased their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada decreased their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Robert W. Baird dropped their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price target on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.00.

IDEX Stock Up 0.3 %

Shares of IDEX stock opened at $196.45 on Tuesday. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 2.11. The company has a 50-day moving average of $215.57 and a 200 day moving average of $211.95. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 1.98 and a beta of 0.97.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, sell-side analysts anticipate that IDEX Co. will post 8.37 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, January 17th. IDEX’s dividend payout ratio is presently 41.50%.

IDEX 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.