Allstate Corp Has $850,000 Stock Position in IDEX Corporation $IEX

Key Points

• Allstate Corp increased its stake in IDEX Corporation by 101% in Q1, owning 4,699 shares valued at $850,000 as of the latest filing.
• IDEX's latest quarterly earnings exceeded analysts' expectations with $2.07 EPS and reported revenue of $865.40 million, reflecting a year-over-year increase of 7.2%.
• The company recently declared a quarterly dividend of $0.71 per share, which translates to an annualized yield of 1.7%.

Allstate Corp raised its position in IDEX Corporation (NYSE:IEX - Free Report) by 101.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,699 shares of the industrial products company's stock after acquiring an additional 2,361 shares during the period. Allstate Corp's holdings in IDEX were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of IDEX by 19.7% during the first quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company's stock worth $914,007,000 after buying an additional 831,005 shares during the period. Impax Asset Management Group plc raised its position in shares of IDEX by 11.5% in the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after acquiring an additional 207,172 shares during the period. Invesco Ltd. increased its stake in shares of IDEX by 15.4% during the first quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company's stock worth $279,682,000 after purchasing an additional 206,633 shares in the last quarter. Fenimore Asset Management Inc increased its stake in shares of IDEX by 2.0% during the first quarter. Fenimore Asset Management Inc now owns 855,951 shares of the industrial products company's stock worth $154,901,000 after purchasing an additional 16,444 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of IDEX by 17.8% during the fourth quarter. Northern Trust Corp now owns 793,622 shares of the industrial products company's stock worth $166,097,000 after purchasing an additional 120,022 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IEX. Mizuho set a $185.00 price objective on shares of IDEX in a research note on Friday, May 16th. Robert W. Baird set a $215.00 target price on shares of IDEX in a report on Friday, May 2nd. DA Davidson set a $180.00 price objective on shares of IDEX and gave the company a "neutral" rating in a report on Monday, August 4th. Royal Bank Of Canada reduced their price objective on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Finally, Citigroup lifted their price target on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, IDEX has a consensus rating of "Moderate Buy" and a consensus target price of $201.71.

IDEX Trading Down 0.5%

Shares of NYSE:IEX traded down $0.79 during trading on Friday, reaching $164.43. The stock had a trading volume of 445,723 shares, compared to its average volume of 782,680. The business has a fifty day moving average price of $172.91 and a 200-day moving average price of $178.16. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.38 billion, a P/E ratio of 26.56, a PEG ratio of 1.73 and a beta of 1.04. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.00 by $0.07. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The firm had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. During the same quarter in the prior year, the business posted $2.06 earnings per share. IDEX's revenue for the quarter was up 7.2% compared to the same quarter last year. 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 anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed 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 was Friday, July 11th. IDEX's dividend payout ratio is 45.88%.

Insider Buying and Selling at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the sale, the chief financial officer owned 5,035 shares of the company's stock, valued at $910,781.15. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company's stock.

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.