Element Capital Management LLC Purchases New Position in IDEX Corporation $IEX

Key Points

• Element Capital Management LLC has acquired a stake in IDEX Corporation, purchasing 14,760 shares valued at approximately $2.67 million during the first quarter of the year.
• IDEX Corporation reported a better-than-expected earnings per share of $2.07 for the last quarter, surpassing estimates and achieving a 7.2% year-over-year revenue growth.
• Recent analyst ratings show a consensus "Moderate Buy" for IDEX stock, with price targets ranging from $180.00 to $224.00 after some firms adjusted their ratings.

Element Capital Management LLC bought a new stake in shares of IDEX Corporation (NYSE:IEX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,760 shares of the industrial products company's stock, valued at approximately $2,671,000.

Several other large investors have also recently bought and sold shares of IEX. Raymond James Financial Inc. acquired a new position in IDEX during the 4th quarter valued at about $35,375,000. Mariner LLC increased its stake in IDEX by 7.2% during the 4th quarter. Mariner LLC now owns 9,127 shares of the industrial products company's stock valued at $1,910,000 after buying an additional 612 shares during the period. Canada Post Corp Registered Pension Plan acquired a new position in IDEX during the 4th quarter valued at about $105,000. Guggenheim Capital LLC increased its stake in IDEX by 16.3% during the 4th quarter. Guggenheim Capital LLC now owns 1,256 shares of the industrial products company's stock valued at $263,000 after buying an additional 176 shares during the period. Finally, NFJ Investment Group LLC increased its stake in IDEX by 69.6% during the 4th quarter. NFJ Investment Group LLC now owns 20,246 shares of the industrial products company's stock valued at $4,237,000 after buying an additional 8,307 shares during the period. Institutional investors and hedge funds own 97.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank Of Canada dropped their target price 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. Mizuho set a $185.00 price objective on shares of IDEX in a research report on Friday, May 16th. Citigroup boosted their price objective 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. Oppenheimer reduced their target price on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, DA Davidson set a $180.00 target price on shares of IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, IDEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.71.

IDEX Price Performance

Shares of IEX traded down $1.4540 during trading hours on Wednesday, hitting $164.4460. The stock had a trading volume of 166,201 shares, compared to its average volume of 672,444. The company's fifty day moving average is $174.89 and its two-hundred day moving average is $180.19. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 1.73 and a beta of 1.04. 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 Corporation has a 52 week low of $153.36 and a 52 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.07. The business had revenue of $865.40 million for the quarter, compared to the consensus estimate of $858.59 million. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company 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. On average, analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.71 per share. The ex-dividend date was Friday, July 11th. This represents a $2.84 annualized dividend and a yield of 1.7%. IDEX's dividend payout ratio is 45.88%.

Insider Transactions at IDEX

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer directly owned 5,035 shares in the company, valued at approximately $910,781.15. This represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

About IDEX

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.