UniSuper Management Pty Ltd Has $1.17 Million Holdings in IDEX Co. (NYSE:IEX)

UniSuper Management Pty Ltd increased its stake in shares of IDEX Co. (NYSE:IEX) by 418.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,795 shares of the industrial products company’s stock after purchasing an additional 3,871 shares during the period. UniSuper Management Pty Ltd’s holdings in IDEX were worth $1,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional acquired a new position in IDEX in the fourth quarter valued at about $106,000. SG Americas Securities LLC acquired a new position in IDEX in the fourth quarter valued at about $2,389,000. Compagnie Lombard Odier SCmA acquired a new position in IDEX in the fourth quarter valued at about $54,000. Raymond James & Associates grew its stake in IDEX by 11.2% in the fourth quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock valued at $16,601,000 after acquiring an additional 7,684 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in IDEX by 14.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,787 shares of the industrial products company’s stock valued at $1,256,000 after acquiring an additional 750 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Down 2.5 %

IEX traded down $5.19 on Wednesday, hitting $198.71. 665,686 shares of the company were exchanged, compared to its average volume of 426,057. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The company has a market cap of $15.04 billion, a PE ratio of 26.50, a PEG ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The stock’s fifty day moving average is $205.54 and its 200-day moving average is $219.77.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same quarter in the prior year, the company posted $2.09 earnings per share. IDEX’s revenue was down 5.3% on a year-over-year basis. Equities research analysts predict that IDEX Co. will post 8.27 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.69 per share. The ex-dividend date is Friday, July 12th. This represents a $2.76 annualized dividend and a yield of 1.39%. IDEX’s payout ratio is presently 36.32%.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of research analyst reports. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Stifel Nicolaus reduced their price objective on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Citigroup upped their price objective on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Robert W. Baird reduced their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued 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 $246.57.

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.