Flossbach Von Storch SE Increases Stake in IDEX Corporation $IEX

Flossbach Von Storch SE increased its position in shares of IDEX Corporation (NYSE:IEX) by 23.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 791,020 shares of the industrial products company’s stock after buying an additional 150,228 shares during the period. Flossbach Von Storch SE owned about 1.05% of IDEX worth $128,746,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $211.00 price objective on shares of IDEX in a report on Thursday, January 15th. Stifel Nicolaus increased their price target on shares of IDEX from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. TD Cowen restated a “buy” rating on shares of IDEX in a research report on Wednesday, December 3rd. Citigroup upped their target price on shares of IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a report on Monday, December 8th. Finally, Oppenheimer set a $210.00 price target on shares of IDEX in a research note on Tuesday, October 7th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.29.

IDEX Price Performance

IEX stock opened at $196.34 on Thursday. The company has a current ratio of 2.93, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $14.70 billion, a P/E ratio of 31.07, a PEG ratio of 1.95 and a beta of 1.00. The business has a 50 day simple moving average of $181.83 and a 200-day simple moving average of $172.07. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $226.04.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.93 by $0.10. The firm had revenue of $878.70 million during the quarter, compared to the consensus estimate of $861.44 million. IDEX had a net margin of 13.97% and a return on equity of 15.20%. IDEX’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 EPS. As a group, equities analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

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