IDEX Corporation $IEX Stock Holdings Increased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its stake in IDEX Corporation (NYSE:IEX) by 2.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,112 shares of the industrial products company’s stock after purchasing an additional 60 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in IDEX were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Horizon Investments LLC lifted its position in shares of IDEX by 5.2% in the first quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 54 shares in the last quarter. Empowered Funds LLC lifted its position in shares of IDEX by 3.4% in the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 54 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of IDEX by 1.0% in the first quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company’s stock worth $1,084,000 after purchasing an additional 60 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of IDEX by 0.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company’s stock worth $1,508,000 after purchasing an additional 61 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of IDEX by 21.5% in the second quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 79 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IEX has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Oppenheimer set a $210.00 price objective on shares of IDEX in a research report on Tuesday, October 7th. Citigroup raised their price objective on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Stifel Nicolaus cut their price objective on shares of IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Royal Bank Of Canada cut their price objective on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, IDEX presently has an average rating of “Moderate Buy” and an average target price of $199.57.

IDEX Trading Down 0.3%

NYSE:IEX opened at $167.93 on Friday. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 1.78 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. The company’s 50 day moving average is $163.90 and its 200-day moving average is $172.15.

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

IDEX declared that its Board of Directors has initiated a share buyback program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

IDEX Dividend Announcement

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

About IDEX

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.