Maren Capital LLC Sells 46,636 Shares of IDEX Co. (NYSE:IEX)

Maren Capital LLC cut its holdings in shares of IDEX Co. (NYSE:IEX) by 15.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,116 shares of the industrial products company’s stock after selling 46,636 shares during the quarter. IDEX makes up 4.0% of Maren Capital LLC’s portfolio, making the stock its 12th largest position. Maren Capital LLC owned about 0.33% of IDEX worth $51,928,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IEX. Public Sector Pension Investment Board grew its position in shares of IDEX by 13.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,304 shares of the industrial products company’s stock valued at $709,000 after acquiring an additional 400 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of IDEX in the third quarter valued at approximately $268,000. Investment Management Corp of Ontario increased its holdings in shares of IDEX by 46.8% during the 3rd quarter. Investment Management Corp of Ontario now owns 2,511 shares of the industrial products company’s stock worth $539,000 after acquiring an additional 800 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in IDEX by 2.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 32,584 shares of the industrial products company’s stock valued at $6,989,000 after acquiring an additional 833 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in IDEX by 34.0% during the 3rd quarter. Quantinno Capital Management LP now owns 3,596 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 913 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

IEX stock opened at $162.33 on Monday. IDEX Co. has a 52-week low of $159.24 and a 52-week high of $241.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The company has a market capitalization of $12.26 billion, a P/E ratio of 24.41, a PEG ratio of 1.98 and a beta of 1.05. The company has a fifty day moving average price of $192.73 and a 200-day moving average price of $208.54.

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

Analysts Set New Price Targets

Several analysts recently commented on IEX shares. DA Davidson reduced their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada lowered their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Citigroup dropped their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus boosted their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX 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.