IDEX Corporation $IEX Stock Position Cut by Weitz Investment Management Inc.

Key Points

• Weitz Investment Management trimmed its IDEX position by 3.7% in the fourth quarter, selling 15,000 shares and ending with 391,475 shares valued at about $69.7 million.
• IDEX reported better-than-expected quarterly results, posting EPS of $2.00 versus $1.78 expected and revenue of $886.9 million, up 8.9% from a year ago.
• The company raised its dividend to $0.73 per share from $0.71, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $241.11.

Weitz Investment Management Inc. lessened its position in shares of IDEX Corporation (NYSE:IEX - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 391,475 shares of the industrial products company's stock after selling 15,000 shares during the quarter. IDEX makes up 4.1% of Weitz Investment Management Inc.'s holdings, making the stock its 10th biggest position. Weitz Investment Management Inc. owned about 0.52% of IDEX worth $69,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. GoalVest Advisory LLC acquired a new stake in IDEX during the fourth quarter valued at $26,000. Laurel Wealth Advisors LLC acquired a new stake in IDEX during the fourth quarter valued at $27,000. Cromwell Holdings LLC grew its position in IDEX by 41.1% during the fourth quarter. Cromwell Holdings LLC now owns 199 shares of the industrial products company's stock valued at $35,000 after buying an additional 58 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in IDEX during the second quarter valued at $35,000. Finally, MUFG Securities EMEA plc acquired a new stake in IDEX during the second quarter valued at $39,000. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Stock Performance

IEX opened at $216.93 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.39 and a debt-to-equity ratio of 0.46. The company has a market cap of $16.05 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.10 and a beta of 1.00. IDEX Corporation has a 52-week low of $157.25 and a 52-week high of $223.94. The firm's fifty day simple moving average is $207.95 and its two-hundred day simple moving average is $197.07.

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

IDEX Increases Dividend

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

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen raised their price target on shares of IDEX from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Seaport Research Partners restated a "buy" rating and set a $250.00 price target on shares of IDEX in a research report on Tuesday, May 5th. Oppenheimer reaffirmed an "outperform" rating and set a $250.00 price objective (up from $242.00) on shares of IDEX in a report on Tuesday, June 2nd. Royal Bank Of Canada increased their price objective on shares of IDEX from $225.00 to $252.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Finally, Citigroup increased their price objective on shares of IDEX from $243.00 to $252.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, IDEX has a consensus rating of "Moderate Buy" and an average target price of $241.11.

Insider Buying and Selling at IDEX

In other news, CEO Eric D. Ashleman sold 15,385 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 66,658 shares of the company's stock, valued at approximately $14,346,134.76. This trade represents a 18.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.