IDEX Co. (NYSE:IEX) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in shares of IDEX Co. (NYSE:IEX) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,364 shares of the industrial products company’s stock after acquiring an additional 714 shares during the quarter. Metis Global Partners LLC’s holdings in IDEX were worth $1,794,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Curi RMB Capital LLC boosted its position in shares of IDEX by 15.8% in the third quarter. Curi RMB Capital LLC now owns 67,435 shares of the industrial products company’s stock worth $14,465,000 after buying an additional 9,180 shares during the period. Huntington National Bank raised its stake in IDEX by 22.5% during the 3rd quarter. Huntington National Bank now owns 631 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 116 shares during the last quarter. ICICI Prudential Asset Management Co Ltd acquired a new position in shares of IDEX in the third quarter valued at $2,218,000. Simmons Bank grew its position in IDEX by 3.8% in the third quarter. Simmons Bank now owns 2,717 shares of the industrial products company’s stock valued at $583,000 after acquiring an additional 100 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in IDEX by 1.2% in the third quarter. Victory Capital Management Inc. now owns 58,887 shares of the industrial products company’s stock worth $12,631,000 after purchasing an additional 690 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IEX. TD Cowen cut their price target on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada increased their target price on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, DA Davidson decreased their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Performance

Shares of NYSE IEX opened at $227.83 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $212.21 and a 200-day moving average of $207.77. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The company has a market capitalization of $17.25 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.44 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the prior year, the business posted $2.12 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts predict that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

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.