Lake Street Advisors Group LLC Takes $243,000 Position in IDEX Co. (NYSE:IEX)

Lake Street Advisors Group LLC bought a new position in shares of IDEX Co. (NYSE:IEX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 996 shares of the industrial products company’s stock, valued at approximately $243,000.

Several other large investors have also recently bought and sold shares of the stock. Planned Solutions Inc. acquired a new stake in IDEX in the 4th quarter worth $33,000. Riverview Trust Co bought a new position in IDEX during the 1st quarter valued at about $35,000. Quarry LP acquired a new position in shares of IDEX in the 4th quarter worth approximately $36,000. EdgeRock Capital LLC bought a new stake in shares of IDEX during the fourth quarter worth $48,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of IDEX in the fourth quarter valued at $50,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Up 2.7 %

IEX stock traded up $5.42 during mid-day trading on Thursday, hitting $204.13. 157,807 shares of the company were exchanged, compared to its average volume of 424,168. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The firm’s 50 day simple moving average is $205.03 and its 200 day simple moving average is $219.62. The firm has a market cap of $15.45 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.05 and a beta of 0.95.

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

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a $0.69 dividend. The ex-dividend date is Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.35%. IDEX’s dividend payout ratio (DPR) is 36.32%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird reduced their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus dropped their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Oppenheimer boosted their price objective on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $246.57.

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.