Sawgrass Asset Management LLC Buys Shares of 24,053 IDEX Corporation $IEX

Sawgrass Asset Management LLC bought a new position in IDEX Corporation (NYSE:IEX) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 24,053 shares of the industrial products company’s stock, valued at approximately $3,915,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IEX. Empowered Funds LLC raised its stake in IDEX by 3.4% during the 1st quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock worth $298,000 after buying an additional 54 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of IDEX by 2.0% in the second quarter. Cullen Frost Bankers Inc. now owns 3,112 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 60 shares in the last quarter. Blue Trust Inc. raised its position in shares of IDEX by 21.5% during the second quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 79 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of IDEX by 5.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,864 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 96 shares in the last quarter. Finally, Mediolanum International Funds Ltd grew its position in shares of IDEX by 1.4% in the 2nd quarter. Mediolanum International Funds Ltd now owns 8,540 shares of the industrial products company’s stock valued at $1,506,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IEX shares. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Stifel Nicolaus lifted their target price on IDEX from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday. Citigroup upped their price target on IDEX from $197.00 to $202.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $211.00 price objective on shares of IDEX in a report on Thursday, January 15th. Finally, TD Cowen restated a “buy” rating on shares of IDEX in a report on Wednesday, December 3rd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and an average target price of $203.29.

IDEX Price Performance

NYSE:IEX opened at $195.29 on Friday. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $226.04. The company has a current ratio of 2.93, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $179.82 and a 200 day simple moving average of $171.82. The stock has a market capitalization of $14.62 billion, a PE ratio of 30.90, a P/E/G ratio of 1.96 and a beta of 1.00.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.93 by $0.10. IDEX had a return on equity of 15.20% and a net margin of 13.97%.The company had revenue of $878.70 million during the quarter, compared to the consensus estimate of $861.44 million. During the same period in the previous year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. IDEX has set its FY 2025 guidance at 7.860-7.91 EPS. On average, research analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

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

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.