Paloma Partners Management Co Increases Stock Position in IDEX Co. (NYSE:IEX)

Paloma Partners Management Co increased its position in IDEX Co. (NYSE:IEX) by 3,596.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,000 shares of the industrial products company’s stock after acquiring an additional 38,918 shares during the period. Paloma Partners Management Co owned about 0.05% of IDEX worth $8,372,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in IDEX during the 4th quarter valued at $49,000. Jones Financial Companies Lllp raised its stake in IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after buying an additional 106 shares during the last quarter. Assetmark Inc. raised its stake in IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after buying an additional 235 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in IDEX during the 4th quarter valued at $105,000. Finally, BankPlus Trust Department purchased a new stake in IDEX during the 4th quarter valued at $123,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Up 0.6 %

NYSE:IEX opened at $174.03 on Tuesday. The company has a market cap of $13.15 billion, a PE ratio of 26.17, a P/E/G ratio of 1.98 and a beta of 1.05. IDEX Co. has a twelve month low of $153.36 and a twelve month high of $238.22. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $178.94 and its two-hundred day moving average is $203.10.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Analysts anticipate that IDEX Co. will post 8.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IEX. Citigroup reduced their price target on IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Mizuho set a $175.00 price objective on IDEX in a research report on Tuesday, April 22nd. DA Davidson lowered their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada lowered their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price target on IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $217.13.

About IDEX

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.