Bank of New York Mellon Corp Grows Stake in IDEX Co. (NYSE:IEX)

Bank of New York Mellon Corp grew its holdings in IDEX Co. (NYSE:IEX) by 8.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 643,190 shares of the industrial products company’s stock after acquiring an additional 48,516 shares during the period. Bank of New York Mellon Corp’s holdings in IDEX were worth $134,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Studio Investment Management LLC lifted its holdings in IDEX by 4.9% in the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after buying an additional 45 shares during the period. Bleakley Financial Group LLC lifted its holdings in IDEX by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock worth $254,000 after buying an additional 48 shares during the period. Albert D Mason Inc. lifted its holdings in IDEX by 1.3% in the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock worth $948,000 after buying an additional 56 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of 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 in the last quarter. Finally, Diversified Trust Co raised its position in shares of IDEX by 1.0% in the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Up 0.3 %

IEX stock opened at $194.31 on Friday. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The firm has a market cap of $14.73 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97. The business has a 50 day moving average of $207.62 and a 200 day moving average of $211.49.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating 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%. On average, research analysts forecast that IDEX Co. will post 8.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup decreased their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus increased their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada decreased their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Three investment 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 has a consensus rating of “Moderate Buy” and an average price target of $241.71.

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.