Simmons Bank Lowers Stock Holdings in IDEX Co. (NYSE:IEX)

Simmons Bank cut its position in shares of IDEX Co. (NYSE:IEX) by 23.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,617 shares of the industrial products company’s stock after selling 780 shares during the quarter. Simmons Bank’s holdings in IDEX were worth $527,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in IDEX in the fourth quarter worth $518,000. CWM LLC lifted its stake in shares of IDEX by 15.9% in the 4th quarter. CWM LLC now owns 1,992 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 273 shares during the last quarter. Headlands Technologies LLC purchased a new stake in IDEX during the 4th quarter valued at about $52,000. Russell Investments Group Ltd. grew its position in IDEX by 25.1% during the 4th quarter. Russell Investments Group Ltd. now owns 57,005 shares of the industrial products company’s stock worth $12,376,000 after acquiring an additional 11,442 shares during the last quarter. Finally, Choreo LLC purchased a new position in IDEX in the 4th quarter worth approximately $428,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on IEX. Stifel Nicolaus cut their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. TD Cowen cut their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Royal Bank of Canada dropped their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.50.

IDEX Stock Down 0.2 %

Shares of IEX traded down $0.41 during trading hours on Wednesday, hitting $203.18. The company had a trading volume of 452,223 shares, compared to its average volume of 440,355. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 2.08 and a beta of 0.95. The firm has a fifty day moving average price of $200.02 and a 200-day moving average price of $217.37. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.45 and a current ratio of 3.41.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.02. The business had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.18 earnings per share. On average, equities research analysts forecast that IDEX Co. will post 7.85 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 annualized dividend and a dividend yield of 1.36%. IDEX’s payout ratio is 36.32%.

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.