Franklin Street Advisors Inc. NC Sells 4,000 Shares of IDEX Corporation $IEX

Franklin Street Advisors Inc. NC decreased its position in IDEX Corporation (NYSE:IEX) by 16.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,125 shares of the industrial products company’s stock after selling 4,000 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in IDEX were worth $3,276,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of IDEX by 257.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. American National Bank & Trust bought a new position in shares of IDEX during the 2nd quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in shares of IDEX in the second quarter valued at approximately $28,000. Loomis Sayles & Co. L P acquired a new stake in shares of IDEX in the second quarter valued at approximately $33,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of IDEX in the second quarter worth $35,000. 97.96% of the stock is currently owned by institutional investors.

IDEX Trading Up 0.2%

Shares of NYSE:IEX opened at $177.80 on Friday. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $226.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.93. The company has a market capitalization of $13.31 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The company has a 50-day simple moving average of $170.60 and a 200 day simple moving average of $170.66.

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

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 annualized dividend and a yield of 1.6%. IDEX’s dividend payout ratio (DPR) is currently 44.94%.

IDEX declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

IEX has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their target price on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Cowen restated a “buy” rating on shares of IDEX in a report on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Stifel Nicolaus reduced their price target on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Finally, Oppenheimer set a $210.00 price target on IDEX in a research report on Tuesday, October 7th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $196.86.

IDEX Company Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.