Assenagon Asset Management S.A. Trims Stock Holdings in IDEX Corporation $IEX

Key Points

• Assenagon Asset Management S.A. dramatically reduced its stake in IDEX Corporation by 84.7% during the second quarter, selling 81,623 shares and reducing ownership to 14,738 shares.
• IDEX has initiated a $1.00 billion share buyback program, allowing the company to repurchase up to 8.3% of its shares, often signaling that the stock is undervalued.
• The company announced a quarterly dividend of $0.71 per share, with a dividend yield of 1.8%, and plans to pay on October 24th.

Assenagon Asset Management S.A. lowered its holdings in shares of IDEX Corporation (NYSE:IEX - Free Report) by 84.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,738 shares of the industrial products company's stock after selling 81,623 shares during the quarter. Assenagon Asset Management S.A.'s holdings in IDEX were worth $2,588,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IEX. Squarepoint Ops LLC grew its position in shares of IDEX by 4.2% during the fourth quarter. Squarepoint Ops LLC now owns 2,123 shares of the industrial products company's stock worth $444,000 after purchasing an additional 85 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of IDEX by 10.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,976 shares of the industrial products company's stock worth $1,460,000 after purchasing an additional 677 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of IDEX during the fourth quarter worth about $23,198,000. Siemens Fonds Invest GmbH grew its position in shares of IDEX by 275.5% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,243 shares of the industrial products company's stock worth $888,000 after purchasing an additional 3,113 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of IDEX during the fourth quarter worth about $5,087,000. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Price Performance

Shares of IDEX stock opened at $159.36 on Friday. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 3.05. The stock has a 50 day moving average price of $166.13 and a 200-day moving average price of $174.22. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22.

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

IDEX announced that its Board of Directors has initiated a share buyback program on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.71 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.8%. IDEX's payout ratio is 45.88%.

Analyst Ratings Changes

Several analysts recently issued reports on IEX shares. Stifel Nicolaus cut their target price on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. DA Davidson set a $180.00 price target on IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Oppenheimer dropped their price target on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Citigroup increased their price target on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.71.

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.

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