National Pension Service Cuts Holdings in IDEX Corporation $IEX

Key Points

• National Pension Service reduced its stake in IDEX Corporation by 99.8%, selling 119,985 shares, leaving it with only 279 shares worth $50,000.
• IDEX reported a quarterly earnings per share of $2.07, exceeding analysts' expectations by $0.07, with a revenue of $865.40 million, marking a 7.2% increase from the previous year.
• The company declared a quarterly dividend of $0.71, representing a 1.7% yield, with a dividend payout ratio of 45.88%.

National Pension Service lessened its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 99.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 279 shares of the industrial products company's stock after selling 119,985 shares during the quarter. National Pension Service's holdings in IDEX were worth $50,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after acquiring an additional 277,964 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of IDEX by 11.5% in the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after purchasing an additional 207,172 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in IDEX by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,868,919 shares of the industrial products company's stock valued at $391,147,000 after purchasing an additional 17,087 shares during the period. Invesco Ltd. raised its position in IDEX by 15.4% during the 1st quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company's stock valued at $279,682,000 after purchasing an additional 206,633 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in IDEX by 11.1% in the 4th quarter. First Trust Advisors LP now owns 1,056,677 shares of the industrial products company's stock worth $221,152,000 after buying an additional 105,960 shares during the period. Institutional investors own 97.96% of the company's stock.

Insider Transactions at IDEX

In related news, CFO Akhil Mahendra sold 250 shares of the 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 sale, the chief financial officer directly owned 5,035 shares of the company's stock, valued at approximately $910,781.15. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.

IDEX Stock Down 1.0%

IEX traded down $1.64 during midday trading on Wednesday, reaching $164.26. The company's stock had a trading volume of 705,101 shares, compared to its average volume of 675,965. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The stock's 50-day moving average is $174.89 and its 200-day moving average is $180.19. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.73 and a beta of 1.04. 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 (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. The firm had revenue of $865.40 million for the quarter, compared to analysts' expectations of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $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. As a group, research analysts expect 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. Stockholders of record on Friday, July 11th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's payout ratio is currently 45.88%.

Analysts Set New Price Targets

IEX has been the subject of a number of recent analyst reports. DA Davidson set a $180.00 target price on IDEX and gave the company a "neutral" rating in a report on Monday, August 4th. 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. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Oppenheimer reduced their price target on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Stifel Nicolaus decreased their price target on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, IDEX presently has a consensus rating of "Moderate Buy" and an average target price 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.