We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
IDEX (IEX) Closes Muon Group Deal, Boosts Product Portfolio
Read MoreHide Full Article
IDEX Corporation (IEX - Free Report) has completed its previously announced acquisition of Netherlands-based micro-precision solution provider Muon Group.
The acquisition expands IDEX’s growing platform of precision technology business within the Health & Science Technologies segment. Commercial synergy potential from the combined entities is expected to boost offerings for new and existing customers.
IDEX’s CEO and president said, "The Muon Group companies are an IDEX-like collection of businesses, making precise, highly-engineered solutions for mission-critical applications, with a values-based culture that very much matches ours.” The combination of similar business structures should provide IEX with a strong base for growth through innovation.
The Muon Group will be part of IDEX’s Scientific Fluidics & Optics unit within the Health & Science Technology segment. The segment contributes more than 40% (majority) to the company’s top line. In the third quarter of 2022, the unit generated $345 million of revenues, up 14% year over year. Organic sales in the quarter increased 13% year over year, while foreign currency translation had a negative impact of 5%.
IDEX has been solidifying its product portfolio through the addition of assets. In May 2022, IDEX completed the acquisition of KZValve. The inclusion of KZValve’s expertise in waterproof motorized valve solutions, supported by its strong product portfolio and innovative capabilities, boosted IEX’s fluid management solutions in the Banjo Corporation business.
In March 2022, IDEX acquired Nexsight, LLC and its WinCan, Envirosight, MyTana and Pipeline Renewal Technologies businesses. The company acquired several businesses in 2021, including Airtech Group and Abel Pumps. Acquired assets boosted IDEX’s sales by 3% in the third quarter. For the fourth quarter, the company anticipates buyout synergies to boost sales by 3%.
Zacks Rank & Other Key Picks
IDEX currently carries a Zacks Rank #2 (Buy).
Some other stocks worth considering within the broader Industrial Products sector are as follows:
Enerpac Tool’s estimated earnings growth rate for the current fiscal year is 44.6%. Shares of the company have jumped 24.3% in the past six months.
Applied Industrial Technologies, Inc. (AIT - Free Report) presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 24.8%, on average.
Applied Industrial has an estimated earnings growth rate of 14.3% for the current fiscal year. Shares of the company have gained 29.1% in the past six months.
Parker-Hannifin Corporation (PH - Free Report) sports a Zacks Rank of 1. The company pulled off a trailing four-quarter earnings surprise of 11.3%, on average.
Parker-Hannifin has an estimated earnings growth rate of 2.2% for the current fiscal year. Shares of the company have rallied 16.8% in the past six months.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
IDEX (IEX) Closes Muon Group Deal, Boosts Product Portfolio
IDEX Corporation (IEX - Free Report) has completed its previously announced acquisition of Netherlands-based micro-precision solution provider Muon Group.
The acquisition expands IDEX’s growing platform of precision technology business within the Health & Science Technologies segment. Commercial synergy potential from the combined entities is expected to boost offerings for new and existing customers.
IDEX’s CEO and president said, "The Muon Group companies are an IDEX-like collection of businesses, making precise, highly-engineered solutions for mission-critical applications, with a values-based culture that very much matches ours.” The combination of similar business structures should provide IEX with a strong base for growth through innovation.
IDEX Corporation Price
IDEX Corporation price | IDEX Corporation Quote
The Muon Group will be part of IDEX’s Scientific Fluidics & Optics unit within the Health & Science Technology segment. The segment contributes more than 40% (majority) to the company’s top line. In the third quarter of 2022, the unit generated $345 million of revenues, up 14% year over year. Organic sales in the quarter increased 13% year over year, while foreign currency translation had a negative impact of 5%.
IDEX has been solidifying its product portfolio through the addition of assets. In May 2022, IDEX completed the acquisition of KZValve. The inclusion of KZValve’s expertise in waterproof motorized valve solutions, supported by its strong product portfolio and innovative capabilities, boosted IEX’s fluid management solutions in the Banjo Corporation business.
In March 2022, IDEX acquired Nexsight, LLC and its WinCan, Envirosight, MyTana and Pipeline Renewal Technologies businesses. The company acquired several businesses in 2021, including Airtech Group and Abel Pumps. Acquired assets boosted IDEX’s sales by 3% in the third quarter. For the fourth quarter, the company anticipates buyout synergies to boost sales by 3%.
Zacks Rank & Other Key Picks
IDEX currently carries a Zacks Rank #2 (Buy).
Some other stocks worth considering within the broader Industrial Products sector are as follows:
Enerpac Tool Group Corp. (EPAC - Free Report) delivered an average four-quarter earnings surprise of 3.4%. EPAC presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
Enerpac Tool’s estimated earnings growth rate for the current fiscal year is 44.6%. Shares of the company have jumped 24.3% in the past six months.
Applied Industrial Technologies, Inc. (AIT - Free Report) presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 24.8%, on average.
Applied Industrial has an estimated earnings growth rate of 14.3% for the current fiscal year. Shares of the company have gained 29.1% in the past six months.
Parker-Hannifin Corporation (PH - Free Report) sports a Zacks Rank of 1. The company pulled off a trailing four-quarter earnings surprise of 11.3%, on average.
Parker-Hannifin has an estimated earnings growth rate of 2.2% for the current fiscal year. Shares of the company have rallied 16.8% in the past six months.