Hahn Capital Management LLC Boosts Holdings in IDEX Co. (NYSE:IEX)

Hahn Capital Management LLC raised its stake in shares of IDEX Co. (NYSE:IEX) by 33.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,659 shares of the industrial products company’s stock after acquiring an additional 1,416 shares during the period. IDEX makes up about 0.5% of Hahn Capital Management LLC’s holdings, making the stock its 28th largest holding. Hahn Capital Management LLC’s holdings in IDEX were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Riverview Trust Co purchased a new position in IDEX during the first quarter valued at $35,000. Quarry LP purchased a new position in shares of IDEX during the fourth quarter valued at about $36,000. EdgeRock Capital LLC bought a new stake in shares of IDEX in the second quarter worth about $41,000. Whittier Trust Co. lifted its position in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after buying an additional 57 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

IEX has been the topic of several recent research reports. TD Cowen decreased their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective 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. Stifel Nicolaus reduced 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. Oppenheimer lowered their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, DA Davidson reduced their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average price target of $233.50.

IDEX Stock Down 0.8 %

Shares of NYSE:IEX opened at $195.14 on Friday. The firm has a market capitalization of $14.77 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 2.18 and a beta of 0.95. The business has a 50 day simple moving average of $200.08 and a two-hundred day simple moving average of $216.03. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 earnings per share. On average, equities analysts predict that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a $0.69 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $2.76 annualized dividend and a yield of 1.41%. IDEX’s dividend payout ratio (DPR) is currently 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.