Fenimore Asset Management Inc Raises Holdings in IDEX Corporation $IEX

Fenimore Asset Management Inc grew its stake in IDEX Corporation (NYSE:IEX) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 872,652 shares of the industrial products company’s stock after buying an additional 16,701 shares during the quarter. IDEX accounts for approximately 3.1% of Fenimore Asset Management Inc’s portfolio, making the stock its 11th biggest position. Fenimore Asset Management Inc’s holdings in IDEX were worth $153,211,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IEX. Thurston Springer Miller Herd & Titak Inc. lifted its stake in IDEX by 257.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of IDEX during the 2nd quarter worth $25,000. UMB Bank n.a. grew its stake in shares of IDEX by 63.5% during the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 87 shares in the last quarter. Steph & Co. purchased a new position in IDEX in the second quarter valued at $42,000. Finally, SVB Wealth LLC acquired a new stake in IDEX in the first quarter valued at $56,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Up 1.1%

Shares of NYSE:IEX opened at $166.93 on Monday. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. The stock has a market cap of $12.57 billion, a P/E ratio of 26.97, a P/E/G ratio of 1.76 and a beta of 1.04. The firm has a fifty day moving average price of $163.72 and a 200 day moving average price of $173.28.

IDEX (NYSE:IEX) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.07. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The business had revenue of $865.40 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same period in the prior year, the company earned $2.06 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. Sell-side analysts predict that IDEX Corporation will post 8.26 EPS for the current year.

IDEX announced that its board has approved a stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. IDEX’s dividend payout ratio (DPR) is presently 45.88%.

Analysts Set New Price Targets

A number of research firms have recently commented on IEX. DA Davidson set a $180.00 price objective on IDEX and gave the company a “neutral” rating in a report on Monday, August 4th. Royal Bank Of Canada dropped their price target on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus cut their price objective on shares of IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Citigroup increased their target price on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, Oppenheimer reduced their price target on shares of IDEX from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $201.71.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.