Millennium Management LLC Grows Position in IDEX Corporation $IEX

Key Points

• Millennium Management LLC significantly increased its stake in IDEX Corporation by 1,232.4% during the first quarter, acquiring an additional 450,704 shares to bring its total holdings to 487,274 shares valued at $88.2 million.
• IDEX Corporation reported a 7.2% increase in revenue compared to last year, with earnings per share of $2.07 for the last quarter, exceeding the consensus estimate of $2.00.
• The company announced a quarterly dividend of $0.71 per share, contributing to an annualized dividend yield of 1.7%.

Millennium Management LLC raised its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 1,232.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 487,274 shares of the industrial products company's stock after purchasing an additional 450,704 shares during the quarter. Millennium Management LLC owned 0.65% of IDEX worth $88,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Interval Partners LP purchased a new position in shares of IDEX during the 1st quarter valued at $32,535,000. Eventide Asset Management LLC lifted its position in shares of IDEX by 23.7% during the 1st quarter. Eventide Asset Management LLC now owns 99,182 shares of the industrial products company's stock valued at $17,949,000 after buying an additional 19,014 shares during the last quarter. Amundi lifted its position in shares of IDEX by 23.4% during the 1st quarter. Amundi now owns 1,249,546 shares of the industrial products company's stock valued at $220,849,000 after buying an additional 236,650 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of IDEX during the 1st quarter valued at $12,502,000. Finally, Quarry LP lifted its position in shares of IDEX by 166.9% during the 1st quarter. Quarry LP now owns 630 shares of the industrial products company's stock valued at $114,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IEX shares. Royal Bank Of Canada dropped their price objective on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Stifel Nicolaus dropped their price objective on IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Oppenheimer dropped their price objective on IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Citigroup increased their price objective on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Mizuho set a $185.00 price objective on IDEX in a report on Friday, May 16th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.71.

IDEX Trading Up 2.4%

IEX traded up $3.90 on Thursday, hitting $164.07. 468,508 shares of the company were exchanged, compared to its average volume of 676,638. The firm has a fifty day simple moving average of $170.70 and a two-hundred day simple moving average of $176.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 3.05. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The stock has a market capitalization of $12.35 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02.

IDEX (NYSE:IEX - Get Free Report) last posted 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. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The business had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. During the same period last year, the company earned $2.06 EPS. IDEX's revenue for the quarter was up 7.2% compared to the same quarter last year. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. Sell-side analysts expect that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, July 11th. IDEX's dividend payout ratio (DPR) is currently 45.88%.

IDEX Company 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.