Mirae Asset Global Investments Co. Ltd. Acquires New Shares in IDEX Corporation $IEX

Mirae Asset Global Investments Co. Ltd. purchased a new stake in IDEX Corporation (NYSE:IEX) during the 3rd quarter, HoldingsChannel reports. The firm purchased 20,166 shares of the industrial products company’s stock, valued at approximately $4,597,000.

Several other large investors have also bought and sold shares of IEX. Burkett Financial Services LLC purchased a new stake in IDEX in the third quarter worth $27,000. Optiver Holding B.V. bought a new stake in IDEX during the 1st quarter valued at about $27,000. Quantbot Technologies LP bought a new position in IDEX in the 2nd quarter valued at approximately $33,000. Elevation Wealth Partners LLC boosted its stake in IDEX by 42.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 147 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 44 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of IDEX in the 3rd quarter worth $34,000. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

IDEX stock opened at $222.40 on Friday. IDEX Corporation has a 12-month low of $160.60 and a 12-month high of $243.80. The firm has a 50-day moving average price of $230.04 and a 200-day moving average price of $216.75. The firm has a market capitalization of $16.34 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.95. The company has a current ratio of 2.78, a quick ratio of 1.95 and a debt-to-equity ratio of 0.44.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, October 28th. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.09. The firm had revenue of $951.70 million for the quarter, compared to analysts’ expectations of $934.36 million. IDEX had a return on equity of 16.18% and a net margin of 14.65%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. As a group, equities research analysts forecast that IDEX Corporation will post 8.95 EPS for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, October 2nd. IDEX’s payout ratio is 40.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stifel Nicolaus lifted their price objective on IDEX from $267.00 to $273.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Oppenheimer lifted their target price on IDEX from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Vertical Research initiated coverage on shares of IDEX in a report on Tuesday, September 8th. They set a “buy” rating and a $250.00 price target on the stock. KeyCorp raised IDEX to a “hold” rating in a research note on Monday, October 12th. Finally, DA Davidson set a $245.00 target price on shares of IDEX in a research report on Thursday, October 29th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.64.

Insider Transactions at IDEX

In other IDEX news, CAO Lisa Anderson sold 385 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total value of $91,857.15. Following the transaction, the chief accounting officer directly owned 4,327 shares in the company, valued at $1,032,378.93. This represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

About IDEX

IDEX Corporation is an industrial manufacturing company headquartered in Lake Forest, Illinois. The company designs and produces engineered products and technologies used to move, control, measure and apply fluids, as well as equipment used in fire and safety applications.

IDEX operates through businesses serving fluid and metering technologies, health and science technologies, and fire and safety markets. Its products include pumps, valves, flow meters, compressors, dispensing equipment, precision fluidics components and systems, fire pumps, rescue tools and other specialized equipment.

The company serves a broad range of industries, including healthcare, life sciences, water and wastewater, chemical processing, energy, food and beverage, agriculture, industrial manufacturing and municipal fire protection.