CCLA Investment Management Acquires 7,615 Shares of IDEX Co. (NYSE:IEX)

CCLA Investment Management raised its holdings in shares of IDEX Co. (NYSE:IEX) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 433,403 shares of the industrial products company’s stock after buying an additional 7,615 shares during the period. CCLA Investment Management’s holdings in IDEX were worth $86,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Trust Walden Corp grew its position in IDEX by 3.3% during the second quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company’s stock valued at $45,047,000 after acquiring an additional 7,222 shares during the last quarter. UBS Group AG boosted its stake in shares of IDEX by 177.3% during the fourth quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock valued at $12,431,000 after purchasing an additional 36,606 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of IDEX during the second quarter valued at approximately $3,627,000. SG Americas Securities LLC boosted its stake in shares of IDEX by 241.3% during the first quarter. SG Americas Securities LLC now owns 37,561 shares of the industrial products company’s stock valued at $9,166,000 after purchasing an additional 26,557 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of IDEX by 90.1% during the first quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company’s stock valued at $17,077,000 after purchasing an additional 33,162 shares during the period. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Performance

Shares of IEX stock opened at $204.69 on Wednesday. The stock has a fifty day moving average of $200.46 and a 200 day moving average of $214.32. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.09 and a beta of 0.95. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 earnings per share. As a group, research analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is currently 36.32%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer dropped their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. DA Davidson dropped their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada dropped their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird dropped their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and an average target price of $233.50.

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.