The Manufacturers Life Insurance Company Invests $11.13 Million in IDEX Corporation $IEX

Key Points

• The Manufacturers Life Insurance Company acquired 49,059 IDEX shares worth approximately $11.13 million, while institutional investors collectively owned 97.96% of the company.
• IDEX reported quarterly EPS of $2.32, exceeding estimates of $2.11, with revenue up 6.4% year over year to $920.6 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $260.80.
• IDEX shares recently traded at $230.44, and the company pays a quarterly dividend of $0.73, equivalent to a 1.3% annual yield.

The Manufacturers Life Insurance Company bought a new stake in shares of IDEX Corporation (NYSE:IEX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,059 shares of the industrial products company's stock, valued at approximately $11,134,000. The Manufacturers Life Insurance Company owned 0.07% of IDEX at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of IEX. BlackRock Inc. bought a new stake in IDEX in the second quarter valued at approximately $1,301,393,000. Primecap Management Co. CA raised its holdings in IDEX by 86.5% during the 4th quarter. Primecap Management Co. CA now owns 3,226,787 shares of the industrial products company's stock valued at $574,174,000 after buying an additional 1,496,207 shares during the last quarter. State Street Corp boosted its position in IDEX by 0.6% during the 4th quarter. State Street Corp now owns 3,172,410 shares of the industrial products company's stock valued at $564,499,000 after buying an additional 17,668 shares during the period. Geode Capital Management LLC grew its holdings in IDEX by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,034,942 shares of the industrial products company's stock worth $360,740,000 after acquiring an additional 7,844 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of IDEX by 3.3% in the fourth quarter. Van ECK Associates Corp now owns 1,976,856 shares of the industrial products company's stock valued at $351,762,000 after acquiring an additional 63,699 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IEX has been the subject of a number of analyst reports. Stifel Nicolaus increased their target price on shares of IDEX from $257.00 to $268.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Seaport Research Partners restated a "buy" rating and set a $250.00 price target on shares of IDEX in a report on Tuesday, May 5th. Weiss Ratings raised IDEX from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Oppenheimer reiterated an "outperform" rating and issued a $265.00 price objective on shares of IDEX in a report on Thursday, July 30th. Finally, Argus boosted their target price on IDEX from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $260.80.

IDEX Trading Down 1.5%

Shares of IEX opened at $230.44 on Friday. IDEX Corporation has a 1-year low of $158.19 and a 1-year high of $243.80. The company has a current ratio of 3.05, a quick ratio of 2.15 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average price is $228.73 and its 200-day moving average price is $213.75. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.18 and a beta of 0.98.

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

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, July 6th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, July 6th. IDEX's dividend payout ratio (DPR) is presently 42.01%.

Insider Buying and Selling at IDEX

In related news, CAO Lisa M. Anderson sold 385 shares of IDEX stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $238.59, for a total transaction of $91,857.15. Following the sale, the chief accounting officer directly owned 4,327 shares in the company, valued at $1,032,378.93. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

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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