IDEX Co. (IEX) Stake Lessened by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio decreased its holdings in IDEX Co. (NYSE:IEX) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 187,422 shares of the industrial products company’s stock after selling 16,793 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.25% of IDEX worth $22,766,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of IDEX by 468.9% in the 2nd quarter. Prudential Financial Inc. now owns 368,154 shares of the industrial products company’s stock valued at $41,605,000 after purchasing an additional 303,440 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of IDEX in the 2nd quarter valued at $338,000. Nordea Investment Management AB bought a new position in shares of IDEX in the 2nd quarter valued at $377,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in IDEX during the 2nd quarter worth $2,766,000. Finally, Assenagon Asset Management S.A. bought a new stake in IDEX during the 3rd quarter worth $516,000. Institutional investors own 97.02% of the company’s stock.
IEX has been the topic of a number of research reports. Zacks Investment Research lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Royal Bank of Canada boosted their price objective on IDEX from $124.00 to $126.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 18th. Robert W. Baird restated a “buy” rating on shares of IDEX in a research report on Friday, October 20th. Stifel Nicolaus restated a “hold” rating and set a $120.00 price objective on shares of IDEX in a research report on Sunday, September 3rd. Finally, Cowen restated a “hold” rating and set a $95.00 price objective on shares of IDEX in a research report on Friday, October 6th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $116.44.
IDEX (NYSE:IEX) last released its quarterly earnings results on Monday, October 16th. The industrial products company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. IDEX had a return on equity of 19.07% and a net margin of 13.48%. The firm had revenue of $574.50 million for the quarter, compared to analyst estimates of $563.23 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue was up 8.3% on a year-over-year basis. equities research analysts expect that IDEX Co. will post 4.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Monday, January 15th will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.13%. IDEX’s dividend payout ratio (DPR) is presently 37.95%.
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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