Adage Capital Partners GP L.L.C. Purchases Shares of 69,086 IDEX Corporation $IEX

Key Points

• Adage Capital Partners GP L.L.C. acquired 69,086 shares of IDEX Corporation, valued at approximately $12.5 million, increasing their ownership to around 0.09% by the end of the latest reporting period.
• Several hedge funds, including Captrust Financial Advisors and Deutsche Bank AG, have recently adjusted their stakes in IDEX, indicating a growing interest among institutional investors, who own 97.96% of the stock.
• IDEX Corporation reported $2.07 EPS for the last quarter, exceeding analysts' expectations, and declared a quarterly dividend of $0.71 per share, reflecting a 1.7% dividend yield.

Adage Capital Partners GP L.L.C. purchased a new position in shares of IDEX Corporation (NYSE:IEX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 69,086 shares of the industrial products company's stock, valued at approximately $12,502,000. Adage Capital Partners GP L.L.C. owned approximately 0.09% of IDEX at the end of the most recent quarter.

Several other large investors have also made changes to their positions in IEX. MassMutual Private Wealth & Trust FSB boosted its position in shares of IDEX by 81.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after acquiring an additional 64 shares in the last quarter. UMB Bank n.a. boosted its position in shares of IDEX by 63.5% during the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock worth $41,000 after acquiring an additional 87 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of IDEX during the 1st quarter worth approximately $56,000. Federated Hermes Inc. boosted its position in IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock valued at $60,000 after buying an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in IDEX by 970.7% in the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock valued at $79,000 after buying an additional 398 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

Analyst Ratings Changes

IEX has been the topic of a number of research analyst reports. Oppenheimer cut their target price on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Stifel Nicolaus cut their target price on shares of IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Citigroup raised their target price on shares of IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Mizuho set a $185.00 target price on shares of IDEX in a research report on Friday, May 16th. Finally, Royal Bank Of Canada cut their target price on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $201.71.

IDEX Trading Down 2.3%

NYSE IEX traded down $3.83 during mid-day trading on Friday, reaching $160.66. 394,416 shares of the stock were exchanged, compared to its average volume of 657,390. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22. The stock has a 50 day simple moving average of $169.95 and a 200-day simple moving average of $176.02. The stock has a market cap of $12.10 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The business had revenue of $865.40 million during the quarter, compared to the consensus estimate of $858.59 million. During the same quarter last year, the firm earned $2.06 earnings per share. IDEX's quarterly revenue was up 7.2% on a year-over-year basis. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. On average, analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's dividend payout ratio (DPR) is currently 45.88%.

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.