Adage Capital Partners GP L.L.C. Invests $12.50 Million in 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. bought a new stake in IDEX Corporation (NYSE:IEX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 69,086 shares of the industrial products company's stock, valued at approximately $12,502,000. Adage Capital Partners GP L.L.C. owned about 0.09% of IDEX at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Horizon Investments LLC grew its holdings in shares of IDEX by 5.2% during the 1st quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company's stock worth $197,000 after purchasing an additional 54 shares during the period. Alps Advisors Inc. raised its position in IDEX by 1.0% in the 1st quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock valued at $1,084,000 after purchasing an additional 60 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in IDEX by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock valued at $1,031,000 after purchasing an additional 61 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in IDEX by 0.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock worth $1,508,000 after purchasing an additional 61 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IEX. Stifel Nicolaus cut their price target on IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Royal Bank Of Canada decreased their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Oppenheimer decreased their target price on IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Citigroup boosted their price target on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Mizuho set a $185.00 price target on IDEX in a report on Friday, May 16th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $201.71.

IDEX Stock Up 2.4%

NYSE IEX traded up $3.78 on Thursday, hitting $163.95. 423,456 shares of the stock traded hands, compared to its average volume of 676,352. The stock has a 50-day moving average of $170.70 and a 200 day moving average of $176.49. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22. The company has a market capitalization of $12.34 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly 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 return on equity of 15.16% and a net margin of 14.05%.The business had revenue of $865.40 million for the quarter, compared to analysts' expectations of $858.59 million. During the same period in the prior year, the firm earned $2.06 EPS. The business'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. As a group, analysts expect that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders 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 1.7%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's dividend payout ratio (DPR) is presently 45.88%.

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.