St. James Investment Company LLC Invests $9.44 Million in IDEX Corporation $IEX

St. James Investment Company LLC purchased a new stake in IDEX Corporation (NYSE:IEX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 57,984 shares of the industrial products company’s stock, valued at approximately $9,437,000. IDEX comprises 1.5% of St. James Investment Company LLC’s holdings, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in IDEX by 3.4% in the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 54 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of IDEX by 2.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,112 shares of the industrial products company’s stock worth $546,000 after buying an additional 60 shares during the period. Blue Trust Inc. raised its stake in shares of IDEX by 21.5% during the second quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock worth $78,000 after buying an additional 79 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in IDEX by 5.4% in the third quarter. Verdence Capital Advisors LLC now owns 1,864 shares of the industrial products company’s stock valued at $312,000 after buying an additional 96 shares during the period. Finally, Mediolanum International Funds Ltd boosted its stake in IDEX by 1.4% in the second quarter. Mediolanum International Funds Ltd now owns 8,540 shares of the industrial products company’s stock valued at $1,506,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IEX shares. Stifel Nicolaus cut their price target on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Royal Bank Of Canada restated an “outperform” rating and set a $211.00 target price on shares of IDEX in a report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Citigroup increased their price target on shares of IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Cowen restated a “buy” rating on shares of IDEX in a report on Wednesday, December 3rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $199.14.

IDEX Price Performance

Shares of NYSE IEX opened at $197.36 on Tuesday. The company has a fifty day moving average price of $177.52 and a 200 day moving average price of $171.32. The firm has a market cap of $14.77 billion, a PE ratio of 31.23, a PEG ratio of 1.98 and a beta of 1.00. The company has a current ratio of 2.93, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $226.04.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.10. IDEX had a return on equity of 15.20% and a net margin of 13.97%.The company had revenue of $878.70 million for the quarter, compared to analyst estimates of $861.44 million. During the same period in the previous year, the company posted $1.90 earnings per share. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. IDEX has set its FY 2025 guidance at 7.860-7.91 EPS. Research analysts predict that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, January 16th. IDEX’s dividend payout ratio is currently 44.94%.

IDEX 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.