Nordea Investment Management AB Purchases 1,559,124 Shares of IDEX Corporation $IEX

Nordea Investment Management AB raised its position in shares of IDEX Corporation (NYSE:IEX) by 193.6% in the third quarter, Holdings Channel reports. The firm owned 2,364,312 shares of the industrial products company’s stock after acquiring an additional 1,559,124 shares during the quarter. Nordea Investment Management AB’s holdings in IDEX were worth $382,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its holdings in IDEX by 235.5% in the 2nd quarter. Assetmark Inc. now owns 1,899 shares of the industrial products company’s stock worth $333,000 after buying an additional 1,333 shares in the last quarter. Groupama Asset Managment grew its stake in shares of IDEX by 80.9% in the second quarter. Groupama Asset Managment now owns 10,194 shares of the industrial products company’s stock worth $1,797,000 after acquiring an additional 4,558 shares during the period. SG Americas Securities LLC raised its holdings in shares of IDEX by 70.1% during the second quarter. SG Americas Securities LLC now owns 15,636 shares of the industrial products company’s stock valued at $2,745,000 after purchasing an additional 6,443 shares during the last quarter. Prudential Financial Inc. lifted its position in IDEX by 7.9% during the second quarter. Prudential Financial Inc. now owns 43,179 shares of the industrial products company’s stock valued at $7,581,000 after purchasing an additional 3,151 shares during the period. Finally, Clarkston Capital Partners LLC purchased a new stake in IDEX in the second quarter worth approximately $17,563,000. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IEX. Citigroup boosted their target price on shares of IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Royal Bank Of Canada cut their price objective on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Stifel Nicolaus lowered their target price on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Oppenheimer set a $210.00 price target on IDEX in a research note on Tuesday, October 7th. Finally, Cowen reaffirmed a “buy” rating on shares of IDEX in a research report on Wednesday, December 3rd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $196.86.

IDEX Stock Performance

NYSE:IEX opened at $186.43 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.93. The stock has a 50-day simple moving average of $174.97 and a two-hundred day simple moving average of $170.81. The firm has a market capitalization of $13.95 billion, a PE ratio of 29.50, a P/E/G ratio of 1.85 and a beta of 1.00. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $226.04.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. The company had revenue of $712.00 million during the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%.IDEX has set its FY 2025 guidance at 7.860-7.91 EPS. Analysts forecast that IDEX Corporation will post 8.26 EPS for the current year.

IDEX declared that its Board of Directors has authorized a share buyback plan on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, January 16th. IDEX’s payout ratio is 44.94%.

About IDEX

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.