IDEX Co. (IEX) Shares Sold by Fenimore Asset Management Inc.

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Fenimore Asset Management Inc. lessened its stake in IDEX Co. (NYSE:IEX) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 700,605 shares of the industrial products company’s stock after selling 4,510 shares during the quarter. IDEX accounts for about 3.6% of Fenimore Asset Management Inc.’s portfolio, making the stock its 5th largest position. Fenimore Asset Management Inc.’s holdings in IDEX were worth $88,458,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. SRS Capital Advisors Inc. increased its stake in IDEX by 83.0% during the second quarter. SRS Capital Advisors Inc. now owns 745 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 338 shares during the last quarter. First Hawaiian Bank bought a new stake in IDEX during the third quarter valued at $120,000. Belpointe Asset Management LLC bought a new stake in IDEX during the third quarter valued at $131,000. Sterling Investment Advisors Ltd. bought a new stake in IDEX during the third quarter valued at $151,000. Finally, Point72 Hong Kong Ltd bought a new stake in IDEX during the second quarter valued at $153,000. Institutional investors and hedge funds own 94.39% of the company’s stock.

Several equities analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of IDEX from $149.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, October 8th. Zacks Investment Research lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Boenning Scattergood assumed coverage on shares of IDEX in a research report on Thursday, October 11th. They set a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. IDEX currently has a consensus rating of “Hold” and an average price target of $145.64.

Shares of IDEX stock traded down $0.14 during trading on Friday, hitting $136.43. 5,042 shares of the stock were exchanged, compared to its average volume of 353,514. The firm has a market capitalization of $10.40 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.30 and a beta of 1.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.41 and a current ratio of 3.21. IDEX Co. has a 12 month low of $117.72 and a 12 month high of $157.84.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.31 by $0.10. The business had revenue of $623.00 million during the quarter, compared to analyst estimates of $613.94 million. IDEX had a net margin of 16.54% and a return on equity of 20.40%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. As a group, sell-side analysts forecast that IDEX Co. will post 5.36 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Tuesday, January 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.26%. The ex-dividend date is Monday, January 14th. IDEX’s payout ratio is currently 39.91%.

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About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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