Retirement Systems of Alabama Sells 156 Shares of IDEX Co. (NYSE:IEX)

Retirement Systems of Alabama lowered its stake in IDEX Co. (NYSE:IEX) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,396 shares of the industrial products company’s stock after selling 156 shares during the quarter. Retirement Systems of Alabama’s holdings in IDEX were worth $3,432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in IEX. Wellington Management Group LLP raised its stake in IDEX by 108.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after purchasing an additional 1,472,456 shares during the period. Van ECK Associates Corp raised its stake in IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after purchasing an additional 1,021,439 shares during the period. Champlain Investment Partners LLC raised its stake in IDEX by 28.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after purchasing an additional 273,460 shares during the period. DF Dent & Co. Inc. bought a new stake in IDEX during the 3rd quarter valued at approximately $31,747,000. Finally, King Luther Capital Management Corp raised its stake in IDEX by 16.2% during the 3rd quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company’s stock valued at $159,314,000 after purchasing an additional 103,432 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

IEX opened at $194.90 on Wednesday. The business has a fifty day moving average of $214.86 and a 200 day moving average of $211.87. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock has a market cap of $14.76 billion, a P/E ratio of 29.31, a PEG ratio of 1.98 and a beta of 0.97.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, sell-side analysts anticipate that IDEX Co. will post 8.37 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada decreased their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Citigroup reduced their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

IDEX Company 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.