On Jun 21, we updated the research report on industrial goods manufacturer, IDEX Corporation IEX.
IDEX is currently striving to expand its businesses in the emerging markets by focusing on organic growth. The company reported organic growth of 5% in the first quarter of 2017, the first such growth since the fourth quarter of 2014, owing to a diligent execution of operational plans. IDEX further aims to increase its market exposure and improve sales mix by continually developing new products. With a flexible yet disciplined focus on cost and productivity, the company expects to successfully tap newer markets to augment its revenues.
At the same time, IDEX is striving to improve productivity through heavy restructuring initiatives across its portfolio. The company aims to exploit suitable acquisition opportunities to fuel its inorganic growth momentum. These acquisitions expand its geographic reach, fill technology gaps and strengthen its foothold in the existing markets along with expanding its product lines. In the last three months, IDEX has outperformed the Zacks categorized Machinery-General Industrial sector with an average return of 23.6% compared with 8.5% gain for the latter.
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