MeadowBrook Investment Advisors LLC Buys Shares of 958 IDEX Co. (NYSE:IEX)

MeadowBrook Investment Advisors LLC purchased a new stake in IDEX Co. (NYSE:IEX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 958 shares of the industrial products company’s stock, valued at approximately $208,000.

Other hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in shares of IDEX by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock valued at $892,000 after purchasing an additional 53 shares in the last quarter. DB Fitzpatrick & Co Inc raised its position in shares of IDEX by 2.1% in the 3rd quarter. DB Fitzpatrick & Co Inc now owns 2,766 shares of the industrial products company’s stock valued at $575,000 after purchasing an additional 56 shares in the last quarter. Jacobson & Schmitt Advisors LLC increased its holdings in shares of IDEX by 5.0% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 1,242 shares of the industrial products company’s stock valued at $258,000 after acquiring an additional 59 shares during the last quarter. Guinness Asset Management LTD increased its holdings in shares of IDEX by 2.8% in the 3rd quarter. Guinness Asset Management LTD now owns 2,360 shares of the industrial products company’s stock valued at $491,000 after acquiring an additional 65 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its holdings in shares of IDEX by 25.6% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IEX. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Citigroup upped their price objective on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $250.71.

IDEX Price Performance

Shares of IDEX stock traded up $1.73 during trading on Monday, hitting $222.15. The stock had a trading volume of 331,383 shares, compared to its average volume of 380,399. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. The firm has a market cap of $16.81 billion, a P/E ratio of 29.37, a PEG ratio of 2.21 and a beta of 0.99. The business has a fifty day moving average of $235.22 and a two-hundred day moving average of $217.49. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same period in the prior year, the business posted $2.09 earnings per share. IDEX’s revenue was down 5.3% compared to the same quarter last year. On average, sell-side analysts expect that IDEX Co. will post 8.33 earnings per share for the current fiscal year.

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.