Millennium Management LLC Purchases 450,704 Shares of 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 lifted its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 1,232.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 about 0.65% of IDEX worth $88,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IEX. Captrust Financial Advisors grew its holdings in IDEX by 3.7% during the fourth quarter. Captrust Financial Advisors now owns 15,607 shares of the industrial products company's stock worth $3,266,000 after acquiring an additional 563 shares during the period. Cetera Investment Advisers grew its holdings in IDEX by 18.4% during the fourth quarter. Cetera Investment Advisers now owns 4,867 shares of the industrial products company's stock worth $1,019,000 after acquiring an additional 758 shares during the period. Deutsche Bank AG grew its holdings in IDEX by 20.0% during the fourth quarter. Deutsche Bank AG now owns 463,351 shares of the industrial products company's stock worth $96,975,000 after acquiring an additional 77,257 shares during the period. First Manhattan CO. LLC. grew its holdings in IDEX by 42.4% during the fourth quarter. First Manhattan CO. LLC. now owns 3,778 shares of the industrial products company's stock worth $791,000 after acquiring an additional 1,125 shares during the period. Finally, Fiduciary Trust Co acquired a new position in IDEX during the fourth quarter worth about $242,000. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Down 2.2%

NYSE:IEX traded down $3.67 on Friday, hitting $160.82. 105,180 shares of the company's stock traded hands, compared to its average volume of 675,004. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The firm has a 50-day moving average price of $170.36 and a 200-day moving average price of $176.27. The company has a market cap of $12.11 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, beating 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 company had revenue of $865.40 million for the quarter, compared to analysts' expectations of $858.59 million. During the same quarter in the previous year, the business posted $2.06 EPS. The business's revenue for the quarter was up 7.2% on a year-over-year basis. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. Equities analysts anticipate that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's payout ratio is 45.88%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IEX shares. DA Davidson set a $180.00 target price on IDEX and gave the stock a "neutral" rating in a report on Monday, August 4th. Mizuho set a $185.00 target price on IDEX in a report on Friday, May 16th. Royal Bank Of Canada dropped their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus cut 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. Finally, Citigroup boosted 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. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $201.71.

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.