OP Asset Management Ltd Purchases New Position in IDEX Corporation $IEX

Key Points

• OP Asset Management opened a new position in IDEX Corporation during the first quarter, buying 8,224 shares valued at about $1.56 million.
• IDEX reported strong quarterly results, with EPS of $2.00 beating estimates and revenue of $886.9 million rising 8.9% year over year; the company also issued upbeat full-year guidance.
• The company announced a quarterly dividend of $0.73 per share, while analysts remain constructive overall with a Moderate Buy consensus and an average price target of $241.11.

OP Asset Management Ltd acquired a new position in shares of IDEX Corporation (NYSE:IEX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,224 shares of the industrial products company's stock, valued at approximately $1,559,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Primecap Management Co. CA grew its holdings in shares of IDEX by 86.5% in the 4th quarter. Primecap Management Co. CA now owns 3,226,787 shares of the industrial products company's stock worth $574,174,000 after purchasing an additional 1,496,207 shares during the last quarter. Dodge & Cox lifted its holdings in IDEX by 266.7% during the 4th quarter. Dodge & Cox now owns 1,262,550 shares of the industrial products company's stock valued at $224,658,000 after purchasing an additional 918,208 shares during the last quarter. Norges Bank acquired a new position in IDEX in the fourth quarter valued at about $162,788,000. Millennium Management LLC grew its stake in IDEX by 293.6% during the fourth quarter. Millennium Management LLC now owns 1,063,763 shares of the industrial products company's stock worth $189,286,000 after buying an additional 793,530 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in IDEX by 35,817.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 720,142 shares of the industrial products company's stock worth $128,142,000 after buying an additional 718,137 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other IDEX news, CEO Eric D. Ashleman sold 15,385 shares of IDEX stock in a transaction on Monday, May 11th. The shares were sold at an average price of $215.22, for a total transaction of $3,311,159.70. Following the completion of the sale, the chief executive officer owned 66,658 shares of the company's stock, valued at approximately $14,346,134.76. The trade was a 18.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company's stock.

IDEX Stock Performance

Shares of NYSE:IEX opened at $227.20 on Monday. The company has a current ratio of 3.39, a quick ratio of 2.40 and a debt-to-equity ratio of 0.46. IDEX Corporation has a 1-year low of $157.25 and a 1-year high of $230.18. The stock has a market capitalization of $16.82 billion, a P/E ratio of 33.61, a P/E/G ratio of 2.23 and a beta of 1.00. The business has a 50-day moving average price of $213.96 and a two-hundred day moving average price of $200.86.

IDEX (NYSE:IEX - Get Free Report) last issued its earnings results 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. IDEX had a net margin of 14.38% and a return on equity of 15.29%. The company had revenue of $886.90 million for the quarter, compared to analyst estimates of $845.58 million. During the same quarter last year, the firm earned $1.75 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. 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 predict that IDEX Corporation will post 8.49 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Monday, July 6th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $2.92 dividend on an annualized basis and a yield of 1.3%. IDEX's dividend payout ratio (DPR) is presently 43.20%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of IDEX from $243.00 to $252.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Royal Bank Of Canada increased their price target on IDEX from $225.00 to $252.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. BMO Capital Markets started coverage on IDEX in a research report on Friday, March 27th. They issued a "market perform" rating and a $214.00 price objective for the company. TD Cowen boosted their price objective on IDEX from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Seaport Research Partners restated a "buy" rating and set a $250.00 target price on shares of IDEX in a report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $241.11.

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.

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