Fenimore Asset Management Inc Grows Stock Position in IDEX Corporation $IEX

Fenimore Asset Management Inc boosted its position in IDEX Corporation (NYSE:IEX) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 872,652 shares of the industrial products company’s stock after purchasing an additional 16,701 shares during the quarter. IDEX comprises approximately 3.1% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 11th largest position. Fenimore Asset Management Inc owned about 1.16% of IDEX worth $153,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in IDEX by 19.7% during the first quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company’s stock worth $914,007,000 after acquiring an additional 831,005 shares during the last quarter. Millennium Management LLC lifted its stake in IDEX by 1,232.4% in the 1st quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company’s stock worth $88,182,000 after purchasing an additional 450,704 shares in the last quarter. Flossbach Von Storch SE acquired a new position in shares of IDEX during the 1st quarter worth approximately $49,815,000. Amundi boosted its holdings in shares of IDEX by 23.4% during the 1st quarter. Amundi now owns 1,249,546 shares of the industrial products company’s stock worth $220,849,000 after purchasing an additional 236,650 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in shares of IDEX by 11.5% in the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company’s stock valued at $363,157,000 after purchasing an additional 207,172 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a report on Saturday, September 27th. Citigroup upped their price objective on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a report on Monday, July 14th. Oppenheimer reduced their target price on shares of IDEX from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada dropped their price target on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.71.

IDEX Price Performance

Shares of IEX opened at $166.93 on Monday. The firm has a 50-day simple moving average of $163.72 and a two-hundred day simple moving average of $173.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The stock has a market cap of $12.57 billion, a PE ratio of 26.97, a P/E/G ratio of 1.76 and a beta of 1.04.

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

IDEX declared that its board has approved a stock buyback plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. IDEX’s payout ratio is currently 45.88%.

IDEX Profile

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.