Y Intercept Hong Kong Ltd Grows Position in IDEX Corporation $IEX

Y Intercept Hong Kong Ltd boosted its stake in shares of IDEX Corporation (NYSE:IEX) by 181.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,885 shares of the industrial products company’s stock after purchasing an additional 25,061 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.05% of IDEX worth $6,827,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its position in IDEX by 257.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. American National Bank & Trust purchased a new stake in IDEX during the 2nd quarter worth approximately $25,000. Steph & Co. purchased a new stake in IDEX during the 2nd quarter worth approximately $42,000. SVB Wealth LLC purchased a new stake in IDEX during the 1st quarter worth approximately $56,000. Finally, Federated Hermes Inc. grew its position in IDEX by 42.9% during the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the subject of several research reports. Citigroup lifted their price objective on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Oppenheimer set a $210.00 price objective on shares of IDEX in a research note on Tuesday, October 7th. Royal Bank Of Canada decreased their price objective on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus decreased their price objective on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Finally, DA Davidson set a $180.00 price objective on shares of IDEX and gave the company a “neutral” rating in a research note on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and an average price target of $199.57.

IDEX Price Performance

NYSE:IEX opened at $167.74 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company has a 50 day moving average price of $163.98 and a 200-day moving average price of $172.16. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22.

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

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, October 10th. IDEX’s payout ratio is 45.88%.

IDEX announced that its Board of Directors has approved a stock repurchase program on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.