Vanguard Personalized Indexing Management LLC Raises Holdings in IDEX Corporation $IEX

Vanguard Personalized Indexing Management LLC boosted its position in IDEX Corporation (NYSE:IEX) by 24.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,912 shares of the industrial products company’s stock after purchasing an additional 1,379 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in IDEX were worth $1,214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of IDEX by 1.0% in the first quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company’s stock valued at $2,666,000 after buying an additional 141 shares during the last quarter. GAMMA Investing LLC grew its stake in IDEX by 49.0% during the 1st quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company’s stock valued at $166,000 after acquiring an additional 301 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in IDEX during the 1st quarter valued at about $909,000. Oppenheimer Asset Management Inc. raised its holdings in IDEX by 0.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company’s stock valued at $1,508,000 after acquiring an additional 61 shares during the last quarter. Finally, Swedbank AB lifted its stake in IDEX by 16.2% in the 1st quarter. Swedbank AB now owns 55,396 shares of the industrial products company’s stock worth $10,025,000 after purchasing an additional 7,726 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada dropped their price target on IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Citigroup boosted their price objective on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Oppenheimer set a $210.00 target price on IDEX in a research note on Tuesday, October 7th. Stifel Nicolaus reduced their price target on IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Finally, DA Davidson set a $180.00 price target on shares of IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.43.

IDEX Price Performance

NYSE:IEX opened at $166.53 on Friday. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $238.22. The stock’s fifty day moving average is $163.57 and its two-hundred day moving average is $172.07. The company has a market capitalization of $12.54 billion, a P/E ratio of 26.90, a P/E/G ratio of 1.76 and a beta of 1.04. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The firm had revenue of $712.00 million during the quarter. Equities analysts expect that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 10th. IDEX’s dividend payout ratio is currently 45.88%.

IDEX announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.