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

Nordea Investment Management AB grew its stake in shares of IDEX Corporation (NYSE:IEX) by 193.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,364,312 shares of the industrial products company’s stock after acquiring an additional 1,559,124 shares during the period. Nordea Investment Management AB owned about 3.14% of IDEX worth $382,049,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. raised its position in shares of IDEX by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 174,571 shares of the industrial products company’s stock valued at $28,413,000 after purchasing an additional 1,273 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of IDEX by 5.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,737 shares of the industrial products company’s stock valued at $1,748,000 after acquiring an additional 542 shares during the period. Oregon Public Employees Retirement Fund grew its stake in IDEX by 32.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 8,605 shares of the industrial products company’s stock valued at $1,401,000 after acquiring an additional 2,101 shares in the last quarter. HB Wealth Management LLC increased its holdings in IDEX by 27.8% during the 3rd quarter. HB Wealth Management LLC now owns 1,499 shares of the industrial products company’s stock worth $244,000 after acquiring an additional 326 shares during the period. Finally, CX Institutional grew its position in shares of IDEX by 32.9% during the 3rd quarter. CX Institutional now owns 594 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 147 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on IEX. Oppenheimer set a $210.00 price target on IDEX in a research note on Tuesday, October 7th. Cowen reaffirmed a “buy” rating on shares of IDEX in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Stifel Nicolaus lowered their price target on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Finally, Royal Bank Of Canada reduced their price objective on IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $196.86.

IDEX Price Performance

Shares of IEX stock 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. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $226.04. The firm has a market cap of $13.95 billion, a P/E ratio of 29.50, a P/E/G ratio of 1.85 and a beta of 1.00. The business’s 50 day moving average price is $174.97 and its 200-day moving average price is $170.81.

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

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

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 annualized dividend and a yield of 1.5%. IDEX’s 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.