IDEX Corp. (IEX) Sees Unusually-High Trading Volume
Shares of IDEX Corp. (NYSE:IEX) saw unusually-strong trading volume on Friday . Approximately 332,900 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 266,213 shares.The stock last traded at $93.67 and had previously closed at $93.46.
A number of research analysts recently issued reports on IEX shares. Zacks Investment Research cut IDEX Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. KeyCorp initiated coverage on IDEX Corp. in a report on Monday, May 23rd. They set a “sector weight” rating for the company. Sanford C. Bernstein reissued a “market perform” rating on shares of IDEX Corp. in a report on Monday, June 27th. Janney Montgomery Scott raised IDEX Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $87.00 to $96.00 in a report on Tuesday, July 19th. Finally, Jefferies Group reissued a “hold” rating on shares of IDEX Corp. in a report on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $85.86.
The company has a market capitalization of $7.16 billion and a P/E ratio of 24.93. The stock has a 50-day moving average of $91.09 and a 200-day moving average of $84.11.
IDEX Corp. (NYSE:IEX) last released its earnings results on Monday, July 18th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. During the same quarter in the prior year, the business posted $0.89 earnings per share. The company had revenue of $549.70 million for the quarter. Equities research analysts predict that IDEX Corp. will post $3.74 earnings per share for the current fiscal year.
In related news, Director Gregory F. Milzcik sold 4,830 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $90.00, for a total value of $434,700.00. Following the sale, the director now directly owns 5,375 shares of the company’s stock, valued at $483,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $91.34, for a total value of $600,560.50. Following the completion of the sale, the chairman now directly owns 88,418 shares in the company, valued at $8,076,100.12. The disclosure for this sale can be found here.
An institutional investor recently raised its position in IDEX Corp. stock. Utah Retirement Systems raised its stake in shares of IDEX Corp. (NYSE:IEX) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,988 shares of the company’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in IDEX Corp. were worth $1,072,000 as of its most recent SEC filing.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP).
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