IDEX Corporation $IEX Shares Bought by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. raised its position in shares of IDEX Corporation (NYSE:IEX) by 24.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,674 shares of the industrial products company’s stock after purchasing an additional 333 shares during the quarter. Mufg Securities Americas Inc.’s holdings in IDEX were worth $294,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Assetmark Inc. boosted its position in IDEX by 35.7% in the first quarter. Assetmark Inc. now owns 566 shares of the industrial products company’s stock valued at $102,000 after buying an additional 149 shares during the last quarter. TD Asset Management Inc lifted its stake in IDEX by 3.1% during the 1st quarter. TD Asset Management Inc now owns 163,743 shares of the industrial products company’s stock valued at $29,633,000 after acquiring an additional 4,957 shares during the period. Empirical Finance LLC boosted its holdings in shares of IDEX by 4.6% in the 1st quarter. Empirical Finance LLC now owns 2,582 shares of the industrial products company’s stock valued at $467,000 after acquiring an additional 113 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of IDEX by 174.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 131,845 shares of the industrial products company’s stock worth $23,860,000 after acquiring an additional 83,718 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of IDEX by 1.9% during the first quarter. LPL Financial LLC now owns 20,068 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 366 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on IEX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Oppenheimer set a $210.00 price objective on IDEX in a report on Tuesday, October 7th. DA Davidson set a $180.00 target price on IDEX and gave the stock a “neutral” rating in a report on Monday, August 4th. Stifel Nicolaus reduced their price target on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Finally, Royal Bank Of Canada lowered their price objective on IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.86.

IDEX Price Performance

Shares of IDEX stock opened at $173.63 on Wednesday. The firm has a market cap of $13.00 billion, a PE ratio of 27.47, a P/E/G ratio of 1.83 and a beta of 1.04. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $235.65. The company has a quick ratio of 2.13, a current ratio of 2.93 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $165.64 and a 200 day moving average price of $171.49.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The company had revenue of $712.00 million for the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. Sell-side analysts predict that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX declared that its board has initiated a stock buyback plan on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, January 16th. IDEX’s payout ratio is presently 44.94%.

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.