Maren Capital LLC Buys 1,752 Shares of IDEX Co. (NYSE:IEX)

Maren Capital LLC raised its stake in shares of IDEX Co. (NYSE:IEX) by 0.6% during the third quarter, Holdings Channel reports. The firm owned 294,752 shares of the industrial products company’s stock after buying an additional 1,752 shares during the period. IDEX comprises 5.2% of Maren Capital LLC’s holdings, making the stock its 10th biggest holding. Maren Capital LLC’s holdings in IDEX were worth $63,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC grew its holdings in IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. acquired a new position in IDEX in the third quarter valued at about $39,000. EdgeRock Capital LLC bought a new position in IDEX during the second quarter worth about $41,000. Whittier Trust Co. increased its stake in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price objective on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. TD Cowen decreased their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus lifted their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird cut their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Down 0.6 %

Shares of IEX opened at $230.52 on Wednesday. The stock’s 50-day moving average price is $218.10 and its two-hundred day moving average price is $208.10. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The company has a market capitalization of $17.45 billion, a PE ratio of 35.68, a PEG ratio of 2.45 and a beta of 0.96. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter last year, the firm posted $2.12 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts anticipate that IDEX Co. will post 7.89 EPS for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.20%. IDEX’s dividend payout ratio (DPR) is 42.72%.

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.