Charles Schwab Investment Management Inc. Grows Stock Holdings in IDEX Co. (NYSE:IEX)

Charles Schwab Investment Management Inc. lifted its position in shares of IDEX Co. (NYSE:IEX) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 630,443 shares of the industrial products company’s stock after purchasing an additional 4,629 shares during the period. Charles Schwab Investment Management Inc.’s holdings in IDEX were worth $135,230,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Catalyst Capital Advisors LLC lifted its holdings in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the period. Assetmark Inc. purchased a new stake in IDEX in the third quarter worth $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. EdgeRock Capital LLC purchased a new position in IDEX during the 2nd quarter valued at $41,000. Finally, Whittier Trust Co. raised its holdings in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Stock Up 2.2 %

Shares of NYSE:IEX opened at $232.50 on Monday. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $215.08 and a two-hundred day simple moving average of $207.77. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. The stock has a market capitalization of $17.61 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.40 and a beta of 0.96.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the previous year, the firm earned $2.12 EPS. IDEX’s quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is currently 42.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IEX. Stifel Nicolaus lifted their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Cowen reduced their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. DA Davidson dropped their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

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.