Redwood Grove Capital LLC Makes New $20.90 Million Investment in IDEX Corporation $IEX

Redwood Grove Capital LLC bought a new stake in IDEX Corporation (NYSE:IEX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 92,100 shares of the industrial products company’s stock, valued at approximately $20,902,000. IDEX accounts for about 5.3% of Redwood Grove Capital LLC’s portfolio, making the stock its 7th largest position.

Several other large investors also recently modified their holdings of IEX. Laurel Wealth Advisors LLC bought a new position in shares of IDEX during the 4th quarter valued at about $27,000. Optiver Holding B.V. acquired a new position in shares of IDEX in the 1st quarter valued at approximately $27,000. SJS Investment Consulting Inc. increased its stake in IDEX by 104.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 149 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 76 shares in the last quarter. Quantbot Technologies LP bought a new stake in IDEX during the 2nd quarter worth approximately $33,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in IDEX during the 2nd quarter worth approximately $35,000. 97.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Seaport Research Partners reaffirmed a “buy” rating and issued a $250.00 price target on shares of IDEX in a research note on Tuesday, May 5th. Mizuho raised shares of IDEX from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $210.00 to $280.00 in a research report on Tuesday, August 11th. Oppenheimer restated an “outperform” rating and set a $265.00 price objective on shares of IDEX in a report on Thursday, July 30th. Citigroup boosted their price objective on shares of IDEX from $252.00 to $269.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, DA Davidson upped their target price on shares of IDEX from $230.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.80.

Insiders Place Their Bets

In other IDEX news, CAO Lisa M. Anderson sold 385 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total transaction of $91,857.15. Following the sale, the chief accounting officer directly owned 4,327 shares of the company’s stock, valued at approximately $1,032,378.93. This represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

IDEX Stock Performance

IEX opened at $230.16 on Wednesday. The business’s 50-day simple moving average is $228.24 and its 200 day simple moving average is $213.32. IDEX Corporation has a 52-week low of $158.19 and a 52-week high of $243.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.15 and a current ratio of 3.05. The firm has a market capitalization of $16.97 billion, a PE ratio of 33.12, a PEG ratio of 2.21 and a beta of 0.98.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.21. The firm had revenue of $920.60 million during the quarter, compared to the consensus estimate of $905.38 million. IDEX had a return on equity of 15.69% and a net margin of 14.49%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share. IDEX has set its FY 2026 guidance at 8.700-8.850 EPS and its Q3 2026 guidance at 2.200-2.250 EPS. As a group, sell-side analysts expect that IDEX Corporation will post 8.82 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Monday, July 6th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, July 6th. IDEX’s payout ratio is presently 42.01%.

IDEX Company 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.