Dorsey Wright & Associates Invests $1.68 Million in IDEX Co. (IEX)

Dorsey Wright & Associates purchased a new stake in shares of IDEX Co. (NYSE:IEX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 12,763 shares of the industrial products company’s stock, valued at approximately $1,684,000.

Several other institutional investors have also added to or reduced their stakes in the company. Advisor Group Inc. raised its holdings in shares of IDEX by 166.3% during the 4th quarter. Advisor Group Inc. now owns 1,374 shares of the industrial products company’s stock valued at $182,000 after purchasing an additional 858 shares in the last quarter. Dynamic Capital Management Ltd bought a new position in shares of IDEX during the 4th quarter valued at $1,030,000. AMP Capital Investors Ltd raised its holdings in shares of IDEX by 14.0% during the 4th quarter. AMP Capital Investors Ltd now owns 23,670 shares of the industrial products company’s stock valued at $3,125,000 after purchasing an additional 2,900 shares in the last quarter. Pitcairn Co. bought a new position in shares of IDEX during the 4th quarter valued at $1,545,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of IDEX by 71.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,700 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 95.34% of the company’s stock.

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IDEX Co. (IEX) opened at $147.45 on Friday. The company has a market cap of $10,931.53, a price-to-earnings ratio of 33.14, a P/E/G ratio of 2.17 and a beta of 1.25. IDEX Co. has a twelve month low of $89.69 and a twelve month high of $148.32. The company has a quick ratio of 2.06, a current ratio of 2.78 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last announced its earnings results on Monday, January 29th. The industrial products company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.07 by $0.05. IDEX had a net margin of 14.74% and a return on equity of 18.88%. The firm had revenue of $585.90 million for the quarter, compared to the consensus estimate of $573.47 million. During the same quarter last year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. analysts expect that IDEX Co. will post 5.07 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on IEX. ValuEngine upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BMO Capital Markets raised their price target on shares of IDEX to $143.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Cowen reiterated a “hold” rating and issued a $120.00 target price on shares of IDEX in a report on Sunday, January 28th. Zacks Investment Research upgraded shares of IDEX from a “hold” rating to a “buy” rating and set a $162.00 target price on the stock in a report on Friday, February 2nd. Finally, SunTrust Banks lifted their target price on shares of IDEX to $145.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $137.56.

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IDEX Profile

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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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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