IDEX Co. (NYSE:IEX) Position Increased by First Manhattan CO. LLC.

First Manhattan CO. LLC. raised its holdings in shares of IDEX Co. (NYSE:IEX) by 42.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,778 shares of the industrial products company’s stock after purchasing an additional 1,125 shares during the period. First Manhattan CO. LLC.’s holdings in IDEX were worth $791,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IEX. Barclays PLC increased its stake in IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after purchasing an additional 14,360 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of IDEX by 3.0% during the third quarter. Principal Financial Group Inc. now owns 95,836 shares of the industrial products company’s stock valued at $20,557,000 after acquiring an additional 2,820 shares during the period. Czech National Bank boosted its holdings in shares of IDEX by 6.5% during the fourth quarter. Czech National Bank now owns 16,419 shares of the industrial products company’s stock valued at $3,436,000 after acquiring an additional 998 shares during the period. Signal Advisors Wealth LLC boosted its holdings in shares of IDEX by 3.6% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 63 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of IDEX during the fourth quarter valued at $297,000. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of NYSE IEX opened at $183.40 on Monday. IDEX Co. has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The firm’s 50-day simple moving average is $176.39 and its 200 day simple moving average is $201.21. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock has a market cap of $13.85 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.98 and a beta of 1.07.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The firm had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $807.25 million. During the same period in the previous year, the business earned $1.88 earnings per share. IDEX’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts expect that IDEX Co. will post 8.26 EPS for the current year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be given a $0.71 dividend. The ex-dividend date is Monday, May 19th. This is a boost from IDEX’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a yield of 1.55%. IDEX’s payout ratio is 43.74%.

Wall Street Analysts Forecast Growth

IEX has been the subject of several analyst reports. Robert W. Baird set a $215.00 price target on shares of IDEX in a report on Friday, May 2nd. Mizuho set a $175.00 price target on shares of IDEX in a report on Tuesday, April 22nd. Royal Bank of Canada boosted their price target on shares of IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. DA Davidson reduced their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Citigroup cut their price objective on shares of IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.25.

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.