GAMMA Investing LLC Purchases 495 Shares of IDEX Co. (NYSE:IEX)

GAMMA Investing LLC lifted its position in shares of IDEX Co. (NYSE:IEX) by 416.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 614 shares of the industrial products company’s stock after buying an additional 495 shares during the quarter. GAMMA Investing LLC’s holdings in IDEX were worth $129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Studio Investment Management LLC grew its holdings in IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 45 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 57 shares during the period. Catalyst Capital Advisors LLC grew its stake in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Empirical Finance LLC increased its holdings in IDEX by 2.5% in the third quarter. Empirical Finance LLC now owns 2,486 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 61 shares during the period. Finally, Avior Wealth Management LLC raised its position in IDEX by 3.1% during the 3rd quarter. Avior Wealth Management LLC now owns 2,463 shares of the industrial products company’s stock worth $528,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE:IEX opened at $208.73 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a fifty day moving average of $221.78 and a 200-day moving average of $209.80. The firm has a market capitalization of $15.81 billion, a P/E ratio of 32.31, a P/E/G ratio of 2.36 and a beta of 0.97.

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

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. 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 1.32%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup upped their target price on IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada raised their price target on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Stifel Nicolaus upped their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.14.

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.