Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes $587,000 Position in IDEX Corporation $IEX

by · The Cerbat Gem

Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in IDEX Corporation (NYSE:IEX – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,346 shares of the industrial products company’s stock, valued at approximately $587,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IEX. Wellington Management Group LLP raised its holdings in shares of IDEX by 19.7% in the first quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company’s stock valued at $914,007,000 after purchasing an additional 831,005 shares during the last quarter. Millennium Management LLC raised its holdings in shares of IDEX by 1,232.4% in the first quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company’s stock valued at $88,182,000 after purchasing an additional 450,704 shares during the last quarter. Flossbach Von Storch SE purchased a new stake in shares of IDEX in the first quarter valued at about $49,815,000. Amundi raised its holdings in shares of IDEX by 23.4% in the first quarter. Amundi now owns 1,249,546 shares of the industrial products company’s stock valued at $220,849,000 after purchasing an additional 236,650 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of IDEX by 11.5% in the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company’s stock valued at $363,157,000 after purchasing an additional 207,172 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of NYSE:IEX opened at $171.56 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.93 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $12.92 billion, a PE ratio of 27.15, a P/E/G ratio of 1.83 and a beta of 1.04. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22. The company has a 50-day moving average price of $164.42 and a two-hundred day moving average price of $172.20.

IDEX (NYSE:IEX – Get Free Report) last issued its earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. The firm had revenue of $712.00 million during the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. Equities analysts forecast that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, October 10th. IDEX’s dividend payout ratio (DPR) is currently 44.94%.

IDEX declared that its Board of Directors has authorized a share repurchase program on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 8.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

IEX has been the subject of several analyst reports. Oppenheimer set a $210.00 target price on shares of IDEX in a report on Tuesday, October 7th. Citigroup increased their price target on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Royal Bank Of Canada reduced their price target on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday. DA Davidson set a $180.00 price target on shares of IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.

Check Out Our Latest Report on IDEX

IDEX Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Corporation (NYSE:IEX – Free Report).