Redwood Grove Capital LLC Takes $20.90 Million Position in IDEX Corporation $IEX

Redwood Grove Capital LLC purchased a new stake in IDEX Corporation (NYSE:IEX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 92,100 shares of the industrial products company's stock, valued at approximately $20,902,000. IDEX makes up 5.3% of Redwood Grove Capital LLC's investment portfolio, making the stock its 7th largest holding. Redwood Grove Capital LLC owned 0.12% of IDEX at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new position in IDEX in the 4th quarter valued at $27,000. Optiver Holding B.V. acquired a new stake in IDEX in the first quarter worth about $27,000. SJS Investment Consulting Inc. increased its position in IDEX by 104.1% in the first quarter. SJS Investment Consulting Inc. now owns 149 shares of the industrial products company's stock worth $28,000 after purchasing an additional 76 shares during the period. Quantbot Technologies LP bought a new stake in IDEX during the 2nd quarter worth about $33,000. Finally, CYBER HORNET ETFs LLC acquired a new position in IDEX during the 2nd quarter valued at about $35,000. Institutional investors own 97.96% of the company's stock.

Insider Transactions at IDEX

In other IDEX news, CAO Lisa M. Anderson sold 385 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total value of $91,857.15. Following the completion of the sale, the chief accounting officer owned 4,327 shares of the company's stock, valued at approximately $1,032,378.93. This represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IEX. Seaport Research Partners reaffirmed a "buy" rating and issued a $250.00 target price on shares of IDEX in a research note on Tuesday, May 5th. Stifel Nicolaus boosted their price target on shares of IDEX from $257.00 to $268.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of IDEX from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 30th. DA Davidson raised their price objective on shares of IDEX from $230.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $265.00 target price on shares of IDEX in a report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, IDEX currently has an average rating of "Moderate Buy" and an average price target of $260.80.

IDEX Trading Down 1.5%

NYSE:IEX opened at $230.16 on Wednesday. The company has a current ratio of 3.05, a quick ratio of 2.15 and a debt-to-equity ratio of 0.46. IDEX Corporation has a 1-year low of $158.19 and a 1-year high of $243.80. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 2.21 and a beta of 0.98. The business's 50-day moving average price is $228.24 and its two-hundred day moving average price is $213.32.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.21. The company had revenue of $920.60 million during the quarter, compared to analyst estimates of $905.38 million. IDEX had a return on equity of 15.69% and a net margin of 14.49%.The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 EPS. IDEX has set its FY 2026 guidance at 8.700-8.850 EPS and its Q3 2026 guidance at 2.200-2.250 EPS. On average, equities analysts expect that IDEX Corporation will post 8.82 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 6th were issued a dividend of $0.73 per share. The ex-dividend date was Monday, July 6th. This represents a $2.92 dividend on an annualized basis and a yield of 1.3%. IDEX's payout ratio is currently 42.01%.

IDEX 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.

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Corporation (NYSE:IEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source