The news regarding IDEX Corporation (IEX) reveals a mixed pattern of performance. Regular quarterly cash dividends are declared, while ownerships by Van ECK Associates Corp, Russell Investment Group Ltd, and others increase. Surprisingly, Retirement Systems of Alabama and New York Life Investment Management LLC have reduced their holdings. Earnings calls for Q4 2023 and Q1 2024 have happened, with the Q2 earning reports beating estimates. However, share performance seems inconsistent, with shares outperforming on some days and underperforming on others. Nevertheless, the share price is 175% higher, and shareholders are happy. Sales have dipped due to market challenges, but this didn't prevent adjusted EPS from exceeding expectations. The company's intrinsic value is estimated to be above its share prices. Increased expenses could potentially impact Q1 earnings. A similar trend exists in Q4 earnings and subsequent quarters, even with robust financial results in 2023. IEX is considered undervalued by some analyses, while other reports suggest potential stock weaknesses. The company completed the acquisition of STC Material Solutions, continuing to expand its material science expertise. It also closed the Muon Group deal, enhancing product portfolio.
An important personnel change occurs as Abhi Khandelwal is appointed SVP, Chief Financial Officer. IDEX also raised its full-year guidance during Q3 2023 results.
Further, IDEX concludes its acquisition of Iridian Spectral Technologies and Muon Group.
Idex Corporation IEX News Analytics from Tue, 20 Sep 2022 07:00:00 GMT to Wed, 08 May 2024 11:57:07 GMT - Rating 0 - Innovation 2 - Information 4 - Rumor 3
