Congruence Capital LLC Buys New Shares in IDEX Corporation $IEX

Key Points

• Congruence Capital LLC initiated a new position in IDEX, buying 95,966 shares valued at about $17.1 million. The stake makes IDEX its 4th-largest holding and represents about 0.13% of the company.
• IDEX reported stronger-than-expected quarterly results, posting $2.00 EPS versus the $1.78 consensus and revenue of $886.9 million, up 8.9% year over year. The company also raised its quarterly dividend to $0.73 per share from $0.71.
• Wall Street sentiment remains constructive, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating. Meanwhile, CEO Eric D. Ashleman sold 15,385 shares in May, trimming his ownership by 18.75%.

Congruence Capital LLC bought a new position in IDEX Corporation (NYSE:IEX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 95,966 shares of the industrial products company's stock, valued at approximately $17,076,000. IDEX accounts for about 6.3% of Congruence Capital LLC's holdings, making the stock its 4th largest holding. Congruence Capital LLC owned about 0.13% of IDEX at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. ING Groep NV bought a new stake in IDEX during the 3rd quarter valued at approximately $887,000. Numerai GP LLC boosted its stake in IDEX by 19.4% in the 3rd quarter. Numerai GP LLC now owns 62,313 shares of the industrial products company's stock worth $10,142,000 after purchasing an additional 10,114 shares during the period. Sienna Gestion purchased a new stake in IDEX during the 3rd quarter valued at approximately $6,686,000. Assenagon Asset Management S.A. raised its position in shares of IDEX by 13.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 62,606 shares of the industrial products company's stock valued at $11,140,000 after buying an additional 7,559 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of IDEX during the third quarter valued at approximately $4,782,000. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

IEX stock opened at $218.12 on Friday. IDEX Corporation has a 52 week low of $157.25 and a 52 week high of $223.94. The firm has a market capitalization of $16.14 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a fifty day simple moving average of $208.47 and a two-hundred day simple moving average of $197.22. The company has a quick ratio of 2.40, a current ratio of 3.39 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.22. IDEX had a net margin of 14.38% and a return on equity of 15.29%. The firm had revenue of $886.90 million for the quarter, compared to the consensus estimate of $845.58 million. During the same period in the previous year, the firm posted $1.75 EPS. The business's quarterly revenue was up 8.9% on a year-over-year basis. IDEX has set its Q2 2026 guidance at 2.070-2.120 EPS and its FY 2026 guidance at 8.350-8.550 EPS. Analysts anticipate that IDEX Corporation will post 8.49 earnings per share for the current fiscal year.

IDEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a $0.73 dividend. This is a boost from IDEX's previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, May 22nd. IDEX's dividend payout ratio is 43.20%.

Insiders Place Their Bets

In other news, CEO Eric D. Ashleman sold 15,385 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $215.22, for a total value of $3,311,159.70. Following the sale, the chief executive officer owned 66,658 shares of the company's stock, valued at approximately $14,346,134.76. This represents a 18.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IEX. Citigroup raised their target price on shares of IDEX from $243.00 to $252.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Robert W. Baird set a $257.00 price objective on shares of IDEX in a report on Thursday, April 30th. BMO Capital Markets began coverage on IDEX in a research report on Friday, March 27th. They set a "market perform" rating and a $214.00 price objective for the company. Stifel Nicolaus set a $250.00 target price on IDEX in a report on Thursday, April 30th. Finally, TD Cowen boosted their target price on IDEX from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.11.

IDEX Company Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company's core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.

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