958 Shares in IDEX Co. (NYSE:IEX) Acquired by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC bought a new position in IDEX Co. (NYSE:IEX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 958 shares of the industrial products company’s stock, valued at approximately $208,000.

Other hedge funds also recently bought and sold shares of the company. Impax Asset Management Group plc increased its stake in IDEX by 4.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after purchasing an additional 84,502 shares during the period. Barclays PLC increased its stake in IDEX by 3.3% in the 3rd quarter. Barclays PLC now owns 1,143,583 shares of the industrial products company’s stock worth $237,890,000 after purchasing an additional 36,928 shares during the period. Northern Trust Corp increased its stake in IDEX by 6.1% in the 3rd quarter. Northern Trust Corp now owns 785,716 shares of the industrial products company’s stock worth $163,445,000 after purchasing an additional 45,120 shares during the period. Alecta Tjanstepension Omsesidigt increased its stake in shares of IDEX by 420.8% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after buying an additional 631,172 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of IDEX by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 593,542 shares of the industrial products company’s stock valued at $123,469,000 after buying an additional 7,559 shares during the period. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Two equities research 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.com, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $250.71.

IDEX Stock Performance

IEX traded up $1.73 during trading on Monday, hitting $222.15. The company’s stock had a trading volume of 331,383 shares, compared to its average volume of 380,399. The firm has a market cap of $16.81 billion, a PE ratio of 29.37, a P/E/G ratio of 2.21 and a beta of 0.99. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The business’s 50 day simple moving average is $235.22 and its 200-day simple moving average is $217.49. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same period in the previous year, the firm posted $2.09 EPS. IDEX’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that IDEX Co. will post 8.33 EPS for the current fiscal year.

IDEX 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.