Mesirow Financial Investment Management Inc. Purchases Shares of 938 IDEX Co. (NYSE:IEX)

Mesirow Financial Investment Management Inc. acquired a new position in shares of IDEX Co. (NYSE:IEX) in the third quarter, HoldingsChannel.com reports. The firm acquired 938 shares of the industrial products company’s stock, valued at approximately $201,000.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. boosted its position 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 purchasing an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of IDEX by 19.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after buying an additional 57 shares during the last quarter. Whittier Trust Co. grew its stake 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 valued at $42,000 after buying an additional 58 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in IDEX by 1.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock worth $1,303,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 0.6 %

IEX stock opened at $227.97 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The business’s fifty day moving average price is $210.29 and its two-hundred day moving average price is $207.42. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The stock has a market capitalization of $17.26 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.42 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same period last year, the firm earned $2.12 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen dropped their target price 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. Robert W. Baird cut their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada raised their price target on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Oppenheimer decreased their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $241.14.

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.