IDEX Co. (IEX) Position Decreased by Hahn Capital Management LLC
Hahn Capital Management LLC cut its holdings in shares of IDEX Co. (NYSE:IEX) by 16.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,398 shares of the industrial products company’s stock after selling 51,275 shares during the quarter. IDEX comprises 3.0% of Hahn Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Hahn Capital Management LLC owned 0.33% of IDEX worth $30,537,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of IEX. BlackRock Inc. boosted its stake in IDEX by 8.8% in the 2nd quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock valued at $790,326,000 after purchasing an additional 568,369 shares during the period. Vanguard Group Inc. boosted its stake in IDEX by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,380,482 shares of the industrial products company’s stock valued at $721,058,000 after purchasing an additional 134,086 shares during the period. Capital World Investors boosted its stake in IDEX by 0.4% in the 2nd quarter. Capital World Investors now owns 5,989,771 shares of the industrial products company’s stock valued at $676,904,000 after purchasing an additional 24,401 shares during the period. State Street Corp boosted its stake in IDEX by 20.6% in the 2nd quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock valued at $270,781,000 after purchasing an additional 409,654 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in IDEX by 5.4% in the 2nd quarter. Alliancebernstein L.P. now owns 1,801,923 shares of the industrial products company’s stock valued at $203,635,000 after purchasing an additional 92,345 shares during the period. 97.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of IDEX Co. (IEX) opened at $130.42 on Thursday. The firm has a market capitalization of $10,033.85, a price-to-earnings ratio of 31.65, a PEG ratio of 2.37 and a beta of 1.24. The company has a current ratio of 2.84, a quick ratio of 2.04 and a debt-to-equity ratio of 0.48. IDEX Co. has a 1 year low of $88.29 and a 1 year high of $135.70.
IDEX (NYSE:IEX) last released its earnings results on Monday, October 16th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $574.50 million during the quarter, compared to the consensus estimate of $563.23 million. IDEX had a return on equity of 19.07% and a net margin of 13.48%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. sell-side analysts anticipate that IDEX Co. will post 4.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Monday, January 15th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.13%. IDEX’s payout ratio is 37.95%.
Several analysts recently issued reports on the company. Seaport Global Securities restated a “neutral” rating on shares of IDEX in a research note on Wednesday, October 18th. Robert W. Baird restated a “buy” rating on shares of IDEX in a research note on Friday, October 20th. Oppenheimer restated a “hold” rating on shares of IDEX in a research note on Wednesday, October 18th. Royal Bank of Canada boosted their price target on IDEX from $124.00 to $126.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 18th. Finally, SunTrust Banks reiterated a “hold” rating and set a $118.00 target price on shares of IDEX in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $113.78.
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IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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