Hikari Power Ltd Buys 730 Shares of IDEX Corporation $IEX

Hikari Power Ltd increased its stake in IDEX Corporation (NYSE:IEX) by 26.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,440 shares of the industrial products company’s stock after purchasing an additional 730 shares during the period. Hikari Power Ltd’s holdings in IDEX were worth $604,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of IDEX by 257.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 103 shares during the period. American National Bank & Trust bought a new position in shares of IDEX in the second quarter worth $25,000. Steph & Co. bought a new position in shares of IDEX in the second quarter worth $42,000. SVB Wealth LLC bought a new position in shares of IDEX in the first quarter worth $56,000. Finally, Federated Hermes Inc. increased its position in shares of IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 100 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX stock opened at $167.93 on Monday. The business’s 50-day moving average price is $163.90 and its 200-day moving average price is $172.20. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.77 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 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 for the quarter. Equities research analysts forecast that IDEX Corporation will post 8.26 EPS for the current year.

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

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, October 10th. IDEX’s dividend payout ratio (DPR) is presently 45.88%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank Of Canada decreased their price target on IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. DA Davidson set a $180.00 target price on IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Citigroup lifted their target price on IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus decreased their target price on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.57.

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.