IDEX Company IEX not too long ago accomplished the acquisition of Abel Pumps, LP and its subsidiaries from Hillenbrand, Inc. HI. The buyout, which was introduced earlier in January 2021, is valued at $ 103.5 million in money. Notably, IDEX shares fell 0.6% yesterday to lastly shut the buying and selling session at $ 199.03.

Based mostly in Büchen, Germany, Abel Pumps is engaged within the design and manufacture of constructive displacement piston pumps. The corporate is acknowledged for the manufacture of diaphragm pumps, solids dealing with, excessive stress and marine pumps. Its merchandise are utilized in numerous finish markets, together with vitality, mining, water, sea and wastewater.

Buyout particulars

With the takeover, IDEX will have the ability to leverage Abel Pumps’ sturdy experience in pump options, which can assist it strengthen its place within the pump manufacturing trade. This apart, the acquisition will permit IDEX to increase its buyer base whereas strengthening its potential to unravel advanced buyer fluid challenges. Specifically, Abel Pumps is built-in into the Fluid and Metering Applied sciences enterprise sector of IDEX.

Different notable redemptions

The corporate intends to consolidate its product portfolio and make the most of enterprise alternatives by way of the addition of property. For instance, in 2019 IDEX added Velcora Holding AB with its Steridose and Roplan companies to its portfolio. As well as, the corporate accomplished the acquisition of Circulate Administration Gadgets in February 2020, which strengthened its product providing to chemical producers, refineries and pipeline operators. The acquired property elevated the corporate’s gross sales by 1% within the fourth quarter of 2020.

Zacks Rating, Worth Efficiency, and Estimate Revisions

IDEX, with a market capitalization of roughly $ 15.1 billion, presently holds a Zacks # 3 (Maintain) rank. The corporate is nicely positioned to learn from a diversified enterprise construction, a robust product portfolio and execution capabilities within the coming quarters. As well as, the synergistic features from buybacks could possibly be useful. Nonetheless, the weak point of the vitality market is more likely to have an effect on its efficiency.

Over the previous three months, the corporate’s inventory value has risen 3.3% in comparison with the trade’s progress of seven.7%.

The story continues

Zacks’ consensus estimate for the corporate’s earnings is ready at $ 5.92 for 2021, up 3% from the determine 60 days in the past. The consensus estimate for 2022 earnings is ready at $ 6.49, up 3.2% over the identical interval.

Shares to contemplate

Some higher ranked actions from the identical house are EnPro Industries, Inc. NPO and Graco Inc. GGG. Whereas EnPro sports activities a Zacks # 1 (sturdy purchase) rank, Graco wears a Zacks # 2 (purchase) rank.

You may see The total checklist of present Zacks # 1 Rank shares right here.

EnPro has produced a constructive shock of 310.81%, on common, over the previous 4 quarters.

Graco has delivered a constructive shock of 20.87%, on common, over the previous 4 quarters.

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