Meeder Asset Management Inc. Invests $2.60 Million in IDEX Corporation $IEX

Key Points

• Meeder Asset Management bought a new stake in IDEX Corporation during the first quarter, acquiring 13,704 shares worth about $2.6 million.
• IDEX reported better-than-expected quarterly results, with EPS of $2.00 versus $1.78 expected and revenue of $886.9 million, up 8.9% year over year.
• The company also declared a quarterly dividend of $0.73 per share and continues to receive broadly positive analyst sentiment, with a consensus rating of Moderate Buy and a target price of $242.11.

Meeder Asset Management Inc. purchased a new position in shares of IDEX Corporation (NYSE:IEX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 13,704 shares of the industrial products company's stock, valued at approximately $2,598,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC raised its position in IDEX by 22.0% during the 1st quarter. WCM Investment Management LLC now owns 2,789 shares of the industrial products company's stock worth $512,000 after buying an additional 502 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of IDEX by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 815,529 shares of the industrial products company's stock worth $154,555,000 after acquiring an additional 31,175 shares during the period. SEB Asset Management AB purchased a new stake in shares of IDEX in the first quarter valued at about $2,855,000. Regents Gate Capital LLP increased its stake in shares of IDEX by 59.9% during the first quarter. Regents Gate Capital LLP now owns 130,389 shares of the industrial products company's stock worth $24,715,000 after acquiring an additional 48,868 shares during the period. Finally, Swiss National Bank increased its stake in shares of IDEX by 6.7% during the first quarter. Swiss National Bank now owns 219,600 shares of the industrial products company's stock worth $41,625,000 after acquiring an additional 13,700 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Performance

IEX opened at $225.23 on Monday. IDEX Corporation has a 1-year low of $157.25 and a 1-year high of $231.70. The stock has a market cap of $16.67 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.21 and a beta of 0.98. The stock's 50 day simple moving average is $218.11 and its 200 day simple moving average is $205.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.39 and a quick ratio of 2.40.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.22. The firm had revenue of $886.90 million during the quarter, compared to analysts' expectations of $845.58 million. IDEX had a return on equity of 15.29% and a net margin of 14.38%.IDEX's revenue was up 8.9% on a year-over-year basis. During the same period in the previous 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. As a group, equities analysts anticipate that IDEX Corporation will post 8.49 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Monday, July 6th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, July 6th. IDEX's payout ratio is 43.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Oppenheimer restated an "outperform" rating and issued a $250.00 price objective (up from $242.00) on shares of IDEX in a research report on Tuesday, June 2nd. Stifel Nicolaus set a $250.00 target price on IDEX in a research note on Thursday, April 30th. Robert W. Baird set a $257.00 price target on IDEX in a report on Thursday, April 30th. Royal Bank Of Canada lifted their price target on IDEX from $252.00 to $261.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Citigroup upped their price objective on IDEX from $243.00 to $252.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.11.

Insider Activity at IDEX

In related news, CEO Eric D. Ashleman sold 15,385 shares of the business'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 sale, the chief executive officer directly owned 66,658 shares in the company, valued at $14,346,134.76. The trade was a 18.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

About IDEX

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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