Welcome to our dedicated page for IDEX Corporation news (Ticker: IEX), a resource for investors and traders seeking the latest updates and insights on IDEX Corporation stock.
IDEX Corporation (NYSE: IEX) is an integral part of many aspects of modern life. Headquartered in Lake Forest, Illinois, IDEX specializes in manufacturing mission-critical components and systems such as pumps, flow meters, valves, and fluidic systems. These products play essential roles in various industries, including industrial, fire and safety, life sciences, and water management.
Organized into three primary segments—Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety and Diversified Products—IDEX operates manufacturing facilities in over 20 countries and employs more than 7,000 people. In 2023, the company generated an impressive $3.3 billion in revenue.
IDEX's versatile product offerings include the Band-It® clamp, which can be found in the airbags of many vehicles, and the Hurst Jaws of Life® rescue tool, often used in critical emergency scenarios. Their contributions to the life sciences are noteworthy as well; IDEX's health and science division produces components used in DNA testing equipment. This technology aids doctors in selecting targeted treatments for conditions such as cancer.
Recently, IDEX acquired STC Material Solutions, an advanced materials manufacturer specializing in aerospace, defense, medical, and semiconductor markets. This acquisition underscores IDEX's commitment to expanding its technological capabilities and market reach.
Founded in 1988 with just three small manufacturing companies, IDEX has grown into a global leader with over 50 businesses under its umbrella. The company's high-performing, diverse operations are dedicated to producing trusted solutions that have a meaningful impact on people's lives.
For more information, visit the official IDEX website at www.idexcorp.com.
IDEX CORPORATION (NYSE:IEX) has declared a quarterly cash dividend of $0.54 per share, scheduled for payment on July 30, 2021. This dividend will benefit shareholders of record as of July 15, 2021, marking the 107th consecutive quarterly cash dividend for the company. IDEX operates as a global leader with over 40 businesses and 7,000 employees, generating revenues exceeding $2 billion annually, providing essential products across various industries.
IDEX Corporation (NYSE:IEX) has finalized its acquisition of Airtech Group, Inc., US Valve Corporation, and related entities from investment funds managed by EagleTree Capital. Airtech specializes in highly-engineered pressure technology products, including vacuum pumps and valves, catering to diverse markets such as food processing and alternative energy. This acquisition enhances IDEX's Health & Science Technology segment and aims to integrate Airtech's expertise into its operations, benefiting from increased capabilities in air moving technologies.
IDEX Corporation (NYSE: IEX) has priced a public offering of $500 million in 2.625% Senior Notes due 2031. This offering, expected to close on May 28, 2021, will net approximately $494.3 million after expenses. IDEX plans to use $357.4 million of the proceeds to redeem its 4.2% Senior Notes due December 15, 2021, alongside related interest and premiums. The remaining funds will be allocated for general corporate purposes. J.P. Morgan, BofA Securities, and Wells Fargo are joint book-running managers for this offering.
IDEX CORPORATION (NYSE:IEX) has announced an 8% increase in its quarterly cash dividend, raising it to $0.54 per share. This payment, marking the company's 106th consecutive quarterly dividend, will be distributed on May 28, 2021, to shareholders of record as of May 24, 2021. With a robust operational presence in over 20 countries and a diverse portfolio of 40 businesses, IDEX continues to demonstrate its commitment to enhancing shareholder value through consistent dividend growth.
IDEX Corporation (NYSE: IEX) reported strong financial results for Q1 2021, with record orders of $710.7 million and sales rising 10% year-over-year to $652 million. The adjusted EPS increased by 14% to $1.51. Operating margin improved to 24.3%, despite a slight decline in gross margin due to COVID-related inventory reserves. Cash from operations reached $109.3 million, supporting record free cash flow of $94.7 million. The company raised its full-year adjusted EPS guidance to $6.05-$6.20 and plans further acquisitions, including Airtech Group.
IDEX Corporation (NYSE:IEX) has announced its acquisition of Airtech Group, Inc., US Valve Corporation, and related entities from EagleTree Capital for $470 million, pending customary adjustments. Airtech specializes in engineered pressure technology products including vacuum pumps and valves, serving various markets globally. This acquisition aims to enhance IDEX's capabilities in high-performing air moving technologies. The deal is expected to close by Q2 2021, subject to regulatory approvals and conditions.
IDEX CORPORATION (NYSE:IEX) will host its first quarter earnings conference call on April 28, 2021, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will present the company’s financial performance and answer questions. Interested investors can listen live via the company's website and access presentation slides. A recording will be available post-call. As a global company exceeding $2 billion in revenue, IDEX produces critical components for various industries, highlighting its significant impact on daily lives.
Hillenbrand has completed the sale of Abel Pumps to IDEX Corporation for approximately $103.5 million. This strategic divestiture aligns with Hillenbrand's goal to streamline its portfolio and enhance financial flexibility. The company plans to utilize the proceeds to reduce leverage and reinvest in organic growth opportunities. CEO Joe Raver emphasized this move as a vital step towards increasing shareholder value and strengthening business platforms.
IDEX Corporation (NYSE:IEX) has successfully completed its acquisition of Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE:HI). Abel is known for its advanced reciprocating positive displacement pumps tailored for demanding applications in sectors such as mining, marine, and wastewater. This strategic acquisition is set to enhance IDEX's fluidics capabilities and expand its market reach. Abel's operational headquarters is in Germany, with additional locations in Spain and the U.S. IDEX aims to leverage Abel's expertise to improve its solutions for its customers' fluid management challenges.
IDEX Corporation (NYSE: IEX) reported financial results for 2020, highlighting full-year EPS of $4.94 and adjusted EPS of $5.19. Cash from operations reached $569 million, marking an 8% increase, leading to a record free cash flow of $518 million. Orders in Q4 were $679 million, a 10% rise, while overall orders for the year totaled $2.4 billion, down 3%. The company announced the acquisition of Abel Pumps, L.P. in January 2021. Despite a strong performance in cash flow, sales decreased by 6% year-over-year, attributed to lower volume and a challenging business mix.
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