Magnetar Financial LLC Reduces Stake in IDEX Co. (IEX)
Magnetar Financial LLC decreased its holdings in IDEX Co. (NYSE:IEX) by 58.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,769 shares of the industrial products company’s stock after selling 5,399 shares during the period. Magnetar Financial LLC’s holdings in IDEX were worth $458,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. IHT Wealth Management LLC increased its holdings in shares of IDEX by 258.5% in the 2nd quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 380 shares during the period. Toronto Dominion Bank acquired a new position in shares of IDEX in the 2nd quarter valued at about $106,000. Strs Ohio acquired a new position in shares of IDEX in the 2nd quarter valued at about $112,000. Acrospire Investment Management LLC increased its holdings in IDEX by 1,000.0% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the industrial products company’s stock worth $124,000 after buying an additional 1,000 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in IDEX in the second quarter worth approximately $134,000. Institutional investors own 97.02% of the company’s stock.
A number of research firms recently commented on IEX. Robert W. Baird restated a “buy” rating and issued a $129.00 price objective on shares of IDEX in a report on Wednesday, October 4th. Royal Bank of Canada increased their price objective on IDEX from $124.00 to $126.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 18th. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a report on Monday, August 21st. BMO Capital Markets restated a “hold” rating and issued a $110.00 price objective on shares of IDEX in a report on Wednesday, September 6th. Finally, Jefferies Group restated a “hold” rating on shares of IDEX in a report on Friday, October 6th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. IDEX currently has an average rating of “Hold” and a consensus target price of $113.78.
Shares of IDEX Co. (NYSE:IEX) opened at $130.42 on Thursday. The stock has a market capitalization of $10,033.85, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 2.37 and a beta of 1.24. The company has a current ratio of 2.84, a quick ratio of 2.04 and a debt-to-equity ratio of 0.48. IDEX Co. has a 12-month low of $88.29 and a 12-month high of $135.70.
IDEX (NYSE:IEX) last announced its earnings results on Monday, October 16th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $574.50 million during the quarter, compared to analysts’ expectations of $563.23 million. IDEX had a return on equity of 19.07% and a net margin of 13.48%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. equities analysts forecast that IDEX Co. will post 4.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Monday, January 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.13%. IDEX’s payout ratio is currently 37.95%.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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