Tue, Sep. 27, 5:55 AM
Thu, Jul. 28, 3:23 AM
- IDEX CORPORATION (IEX) announced that it has entered into a definitive agreement to acquire SFC KOENIG AG, a global leader in the manufacturing of metal-to-metal seal and flow control solutions serving a variety of industries, for cash consideration based on an enterprise value of €217 million, subject to customary post–closing adjustments.
- SFC KOENIG, headquartered in Dietikon, Switzerland, produces highly engineered expanders and check valves for critical applications across the transportation, hydraulic, aviation and medical markets.
- With additional locations in Germany, the United States and China, SFC KOENIG will operate as a part of the sealing solutions platform within IDEX’s Health and Science Technologies Segment. The transaction is expected to close in approximately 30 to 45 days, subject to regulatory approvals and customary closing conditions.
- Commenting on the transaction, IDEX Chairman and Chief Executive Officer Andy Silvernail stated, “SFC KOENIG’s highly engineered content and deep customer relationships are an excellent fit with the IDEX operating model, and the acquisition of SFC aligns nicely with our strategic initiative to pursue acquisition opportunities in the highly engineered sealing solutions space. We look forward to having SFC KOENIG become part of the IDEX sealing solutions platform.”
- Source: Press Release
Mon, Jul. 18, 5:00 PM
Sun, Jul. 17, 5:35 PM
Tue, Jun. 21, 5:19 PM
Mon, Apr. 18, 5:52 PM
Sun, Apr. 17, 5:35 PM
Wed, Apr. 6, 4:38 PM
- IDEX (NYSE:IEX) declares $0.34/share quarterly dividend, 6% increase from prior dividend of $0.32.
- Forward yield 1.68%
- Payable April 29; for shareholders of record April 18; ex-div April 14.
Mon, Apr. 4, 12:26 PM
- General Electric (GE -1.9%) sinks after shares are downgraded to Market Perform from Outperform at Bernstein, which cites valuation concerns after the stock recently hit an eight-year high at $32.
- Bernstein sees risks of rising competition in several of GE's businesses, that growth in its health care segment will be challenged by pricing pressure, and the success of its power and aviation businesses are priced in.
- The firm says many sources of upside are now 'baked into' the current share price" even as GE still has many of the same risks, ranging from Alstom integration and power demand to a longer duration oil and gas business down-cycle to a potential air pocket in aviation within the next few years.
- Bernstein also downgrades Danaher (DHR -1.7%) and IDEX (IEX -1.6%) to Market Perform from Outperform on valuation.
- Now read General Electric: A major buy signal just flashed
Fri, Feb. 5, 8:58 AM
- IDEX Corp. (NYSE:IEX) agrees to acquire Akron Brass, a maker of engineered life-safety products for the safety and emergency response markets, for $224.2M.
- Akron Brass is the industrial products division of Premier Farnell (OTCPK:PIFLF), which says the deal will help it focus on its core electronics distribution business.
Wed, Jan. 27, 6:04 PM
- IDEX (NYSE:IEX): Q4 EPS of $0.94 beats by $0.04.
- Revenue of $499.8M (-4.6% Y/Y) misses by $13.29M.
Tue, Jan. 26, 5:35 PM| Tue, Jan. 26, 5:35 PM | 26 Comments
Dec. 1, 2015, 4:49 PM
- IDEX (NYSE:IEX) declares $0.32/share quarterly dividend, in line with previous.
- Forward yield 1.62%
- Payable Jan. 29; for shareholders of record Jan. 15; ex-div Jan. 13.
Nov. 19, 2015, 6:25 PM
- A sluggish U.S. economy is likely to make life tough next year for industry conglomerates such as Danaher (NYSE:DHR), Honeywell (NYSE:HON), Tyco (NYSE:TYC), Emerson Electric (NYSE:EMR) and General Electric (NYSE:GE), says Bernstein's Steven Winoker.
- The analyst notes that Q3 saw 12 of Bernstein's 13 covered companies miss on revenues, 10 either lower FY 2015 EPS guidance or issue below-consensus FY 2016 guidance, and none raise growth guidance, yet 10 stocks outperformed during earnings season.
- The companies "can’t transform their way out of the reality of a low growth world, which became even more challenging this quarter, with an indication of the worst still to come," Winoker writes, expecting guidance conservatism from the group during investor meetings before the end of the year.
- Also: MMM, ROK, IR, ETN, ALE, IEX
Oct. 19, 2015, 4:52 PM
- IDEX (NYSE:IEX): Q3 EPS of $0.89 in-line.
- Revenue of $503.79M (-5.5% Y/Y) misses by $18.67M.
Oct. 18, 2015, 5:35 PM