Retirement Systems of Alabama lifted its holdings in shares of IDEX Co. (NYSE:IEX) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,176 shares of the industrial products company’s stock after buying an additional 4,264 shares during the period. Retirement Systems of Alabama owned about 0.22% of IDEX worth $21,360,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. SRS Capital Advisors Inc. raised its holdings in shares of IDEX by 83.0% in the 2nd 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 period. US Bancorp DE raised its holdings in shares of IDEX by 17.3% in the 2nd quarter. US Bancorp DE now owns 2,670 shares of the industrial products company’s stock valued at $364,000 after purchasing an additional 393 shares during the period. MetLife Investment Advisors LLC raised its holdings in shares of IDEX by 1.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 48,217 shares of the industrial products company’s stock valued at $6,581,000 after purchasing an additional 455 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of IDEX by 5.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 8,643 shares of the industrial products company’s stock valued at $1,302,000 after purchasing an additional 482 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of IDEX by 2.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 25,861 shares of the industrial products company’s stock valued at $3,530,000 after purchasing an additional 521 shares during the period. Institutional investors own 94.39% of the company’s stock.
IEX has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of IDEX from $149.00 to $150.00 and gave the company a “hold” rating in a report on Monday, October 8th. Zacks Investment Research cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Boenning Scattergood began coverage on shares of IDEX in a report on Thursday, October 11th. They issued a “neutral” rating on the stock. Janney Montgomery Scott raised shares of IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a report on Thursday, October 25th. Finally, Robert W. Baird lowered their price target on shares of IDEX from $145.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. IDEX presently has a consensus rating of “Hold” and a consensus target price of $145.64.
IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.10. IDEX had a net margin of 16.54% and a return on equity of 20.40%. The company had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $613.94 million. During the same period last year, the firm earned $1.08 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts predict that IDEX Co. will post 5.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Tuesday, January 15th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, January 14th. This represents a $1.72 annualized dividend and a dividend yield of 1.26%. IDEX’s dividend payout ratio is presently 39.91%.
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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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