IDEX Corporation $IEX Stock Holdings Increased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its holdings in IDEX Corporation (NYSE:IEX) by 4.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 280,459 shares of the industrial products company’s stock after purchasing an additional 11,309 shares during the quarter. King Luther Capital Management Corp’s holdings in IDEX were worth $63,939,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of IDEX during the 2nd quarter valued at $1,301,393,000. Primecap Management Co. CA acquired a new stake in shares of IDEX in the 2nd quarter valued at $748,951,000. Amundi boosted its holdings in IDEX by 19.6% in the second quarter. Amundi now owns 1,458,979 shares of the industrial products company’s stock worth $331,017,000 after purchasing an additional 239,579 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in IDEX by 101.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,042,703 shares of the industrial products company’s stock worth $236,641,000 after purchasing an additional 525,048 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in IDEX by 215.0% in the first quarter. Bank of America Corp DE now owns 1,094,101 shares of the industrial products company’s stock worth $207,387,000 after purchasing an additional 746,732 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX opened at $239.93 on Thursday. The company has a market capitalization of $17.62 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.65 and a beta of 0.95. IDEX Corporation has a one year low of $160.60 and a one year high of $243.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.78 and a quick ratio of 1.95. The company’s fifty day moving average price is $230.52 and its 200 day moving average price is $217.53.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, October 28th. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.09. IDEX had a net margin of 14.65% and a return on equity of 16.18%. The firm had revenue of $951.70 million during the quarter, compared to analyst estimates of $934.36 million. During the same quarter in the previous year, the business earned $2.03 EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that IDEX Corporation will post 8.95 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 13th will be paid a $0.73 dividend. The ex-dividend date is Wednesday, January 13th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.2%. IDEX’s payout ratio is presently 40.56%.

Analyst Upgrades and Downgrades

Several research firms have commented on IEX. KeyCorp raised shares of IDEX to a “hold” rating in a research report on Monday, October 12th. Royal Bank Of Canada began coverage on IDEX in a research note on Thursday, October 29th. They set a “moderate buy” rating and a $283.00 price target for the company. DA Davidson set a $245.00 price objective on IDEX in a report on Thursday, October 29th. Vertical Research initiated coverage on IDEX in a research note on Tuesday, September 8th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, TD Cowen upped their target price on IDEX from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $263.64.

IDEX Company Profile

IDEX Corporation is a diversified manufacturer of engineered products and technologies used in industrial, life sciences, fire and safety, and other specialized markets. Its offerings include pumps, valves, flow meters and dispensing equipment, as well as components and instruments used in fluidics, medical technology and scientific applications. The company also supplies fire and rescue equipment, including tools and water-handling products. IDEX serves customers around the world through its operating businesses, which sell products for applications ranging from manufacturing and energy to healthcare and emergency response.