Fenimore Asset Management Inc Has $175.70 Million Holdings in IDEX Co. (NYSE:IEX)

Fenimore Asset Management Inc lifted its position in shares of IDEX Co. (NYSE:IEX) by 0.3% during the 4th quarter, HoldingsChannel reports. The firm owned 839,507 shares of the industrial products company’s stock after acquiring an additional 2,701 shares during the period. IDEX accounts for about 3.7% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 5th biggest holding. Fenimore Asset Management Inc’s holdings in IDEX were worth $175,701,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. American Century Companies Inc. grew its position in shares of IDEX by 44.1% in the 2nd quarter. American Century Companies Inc. now owns 9,848 shares of the industrial products company’s stock worth $1,981,000 after buying an additional 3,012 shares during the period. ProShare Advisors LLC grew its holdings in IDEX by 7.2% in the second quarter. ProShare Advisors LLC now owns 16,522 shares of the industrial products company’s stock worth $3,324,000 after purchasing an additional 1,116 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of IDEX by 19.9% during the second 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 in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of IDEX by 73.5% during the second quarter. Public Sector Pension Investment Board now owns 2,904 shares of the industrial products company’s stock valued at $584,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of IDEX by 23.6% in the 2nd quarter. Bank of Montreal Can now owns 88,276 shares of the industrial products company’s stock worth $18,053,000 after purchasing an additional 16,868 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IEX shares. Robert W. Baird lowered their price objective on 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 price target on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus increased their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup decreased their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $242.86.

IDEX Price Performance

NYSE IEX opened at $220.22 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 2.17 and a beta of 0.97. The stock has a 50-day moving average of $219.36 and a 200 day moving average of $211.18. IDEX Co. has a one year low of $189.51 and a one year high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 earnings per share. On average, sell-side analysts forecast that IDEX Co. will post 7.89 EPS for the current year.

IDEX Dividend Announcement

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

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.