Fenimore Asset Management Inc Boosts Position in IDEX Co. (NYSE:IEX)

Fenimore Asset Management Inc raised its stake in shares of IDEX Co. (NYSE:IEX) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 839,507 shares of the industrial products company’s stock after purchasing an additional 2,701 shares during the quarter. IDEX accounts for about 3.7% of Fenimore Asset Management Inc’s holdings, making the stock its 5th biggest holding. Fenimore Asset Management Inc owned approximately 1.11% of IDEX worth $175,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its holdings in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. bought a new stake in IDEX during the third quarter worth about $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of IDEX by 19.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 57 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of IDEX during the 3rd quarter valued at about $86,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

Shares of IDEX stock opened at $220.22 on Friday. The firm has a market cap of $16.68 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. The company’s fifty day simple moving average is $219.36 and its two-hundred day simple moving average is $211.18. 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 12-month low of $189.51 and a 12-month high of $246.36.

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

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is currently 42.72%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stifel Nicolaus upped their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird cut their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada lifted their target price on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Citigroup cut their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $242.86.

IDEX Profile

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.