Balyasny Asset Management L.P. Makes New $14.14 Million Investment in IDEX Co. (NYSE:IEX)

Balyasny Asset Management L.P. bought a new position in IDEX Co. (NYSE:IEX) during the 4th quarter, Holdings Channel.com reports. The firm bought 67,551 shares of the industrial products company’s stock, valued at approximately $14,138,000.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of IDEX by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company’s stock valued at $134,096,000 after buying an additional 73,540 shares during the period. Snyder Capital Management L P increased its position in IDEX by 12.2% during the 4th quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company’s stock valued at $100,500,000 after purchasing an additional 52,259 shares during the period. Asset Management One Co. Ltd. raised its holdings in IDEX by 4.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock worth $6,386,000 after purchasing an additional 1,209 shares in the last quarter. Assetmark Inc. lifted its position in shares of IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 235 shares during the period. Finally, Covea Finance boosted its stake in shares of IDEX by 70.6% during the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after purchasing an additional 6,000 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada upped their target price on IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. DA Davidson reduced their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus boosted their target price on shares of IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Mizuho set a $175.00 price target on shares of IDEX in a research note on Tuesday, April 22nd. Finally, Citigroup dropped 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 given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.25.

IDEX Stock Performance

NYSE:IEX opened at $184.69 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 1.98 and a beta of 1.07. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $238.22. The stock’s 50 day simple moving average is $176.44 and its two-hundred day simple moving average is $201.42.

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

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a dividend of $0.71 per share. This is a positive change from IDEX’s previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.54%. IDEX’s dividend payout ratio (DPR) is currently 43.74%.

IDEX 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.