IDEX Corporation: Looking Better But I'm Still Not Buying $IEX

#Dividend | #Stock | #Investing | Valuation

IDEX Corporation (NYSE:IEX) came on my radar during 2021 and I've been following it since. IDEX is a diversified industrial company that focuses on highly engineered and specialized equipment across just about every industry you can think of. IDEX is split into 3 segments: (1) Fluid and Metering Technology, (2) Heath & Science Technology, and (3) Fire & Safety / Diversified. For FY 2021 revenues were 36%, 41%, and 23%, respectively with operating margins around 27% for each segment.

What intrigues me about IDEX is that they focus on niche industrial markets that require specialized and engineer solutions. Those solutions in turn should lead to repeat business as their customers and end markets expand.

IDEX Corporation's share price has fallen over 27% since late 2021 roughly in-line with the broader market. However, the valuation at that time seemed to be quite rich. With the decline in share price I wanted to re-visit IDEX Corporation to see if now could be the time to add this diversified industrial to my portfolio.

Dividend History

Dividend growth investing is the strategy that most appealed to me when I began my investment journey. By focusing on businesses that have a history of both paying and growing their dividends over time you're more likely to find quality business that has already been through several economic cycles while coming out unscathed.

dividend stock analysis, DIY, value investing, long term investing


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