IDEX Co. (NYSE:IEX) Shares Purchased by Blackston Financial Advisory Group LLC

Blackston Financial Advisory Group LLC grew its holdings in shares of IDEX Co. (NYSE:IEX) by 32.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,239 shares of the industrial products company’s stock after purchasing an additional 553 shares during the period. Blackston Financial Advisory Group LLC’s holdings in IDEX were worth $480,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after acquiring an additional 555,250 shares during the period. Hsbc Holdings PLC boosted its position in shares of IDEX by 75.6% during the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after purchasing an additional 223,422 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of IDEX by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock worth $94,698,000 after purchasing an additional 78,551 shares during the period. CCLA Investment Management lifted its stake in shares of IDEX by 1.8% in the second quarter. CCLA Investment Management now owns 433,403 shares of the industrial products company’s stock valued at $86,697,000 after purchasing an additional 7,615 shares during the period. Finally, Ceredex Value Advisors LLC boosted its holdings in IDEX by 25.8% during the second quarter. Ceredex Value Advisors LLC now owns 416,375 shares of the industrial products company’s stock worth $83,775,000 after buying an additional 85,434 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Trading Down 0.7 %

Shares of IEX stock opened at $203.48 on Friday. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.20 and a beta of 0.95. The firm has a 50-day moving average price of $205.83 and a 200 day moving average price of $208.72. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The business had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 earnings per share. Research analysts forecast that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.36%. IDEX’s payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IEX. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. TD Cowen dropped their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus boosted their target price on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. DA Davidson dropped their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Finally, Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.43.

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.