Fenimore Asset Management Inc. cut its position in shares of IDEX Co. (NYSE:IEX) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 711,489 shares of the industrial products company’s stock after selling 118,781 shares during the period. IDEX accounts for 3.6% of Fenimore Asset Management Inc.’s holdings, making the stock its 4th biggest position. Fenimore Asset Management Inc.’s holdings in IDEX were worth $93,895,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank acquired a new position in IDEX during the second quarter worth $106,000. Calton & Associates Inc. acquired a new position in IDEX during the fourth quarter worth $160,000. IHT Wealth Management LLC raised its holdings in IDEX by 258.5% during the second quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 380 shares during the last quarter. Stock Yards Bank & Trust Co. purchased a new position in IDEX during the fourth quarter worth $201,000. Finally, Community Bank N.A. purchased a new position in IDEX during the fourth quarter worth $203,000. 97.44% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on IEX. Royal Bank of Canada raised their price target on IDEX from $124.00 to $126.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 18th. Robert W. Baird reissued a “buy” rating on shares of IDEX in a research report on Friday, October 20th. Zacks Investment Research raised IDEX from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Cowen reissued a “hold” rating and set a $120.00 price target on shares of IDEX in a research report on Sunday, January 28th. Finally, UBS Group began coverage on IDEX in a research report on Monday, January 22nd. They set a “neutral” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. IDEX currently has an average rating of “Hold” and an average price target of $133.40.
IDEX (NYSE:IEX) last announced its quarterly earnings data on Monday, January 29th. The industrial products company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.05. The business had revenue of $585.90 million during the quarter, compared to the consensus estimate of $573.47 million. IDEX had a return on equity of 18.88% and a net margin of 14.74%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. sell-side analysts forecast that IDEX Co. will post 5.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Monday, January 15th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Thursday, January 11th. IDEX’s dividend payout ratio is currently 33.95%.
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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