IDEX Corp. (IEX) Sees Unusually-High Trading Volume
Shares of IDEX Corp. (NYSE:IEX) saw an uptick in trading volume on Friday . 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.
Several research firms have commented on IEX. Zacks Investment Research downgraded IDEX Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Janney Montgomery Scott began coverage on IDEX Corp. in a research report on Tuesday, June 21st. They set a “neutral” rating and a $87.00 price objective for the company. Royal Bank Of Canada restated a “buy” rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. Jefferies Group restated a “hold” rating on shares of IDEX Corp. in a research report on Tuesday, July 19th. Finally, KeyCorp began coverage on IDEX Corp. in a research report on Monday, May 23rd. They set a “sector weight” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.86.
The firm has a market capitalization of $7.16 billion and a price-to-earnings ratio of 24.93. The company has a 50 day moving average of $91.09 and a 200-day moving average of $84.11.
IDEX Corp. (NYSE:IEX) last posted its earnings results on Monday, July 18th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The business had revenue of $549.70 million for the quarter. During the same period last year, the firm posted $0.89 EPS. Equities analysts forecast that IDEX Corp. will post $3.74 EPS for the current fiscal year.
In other news, Chairman Andrew K. Silvernail sold 6,575 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $91.34, for a total value of $600,560.50. Following the completion of the transaction, the chairman now directly owns 88,418 shares in the company, valued at approximately $8,076,100.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory F. Milzcik sold 4,830 shares of the company’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 completion of the transaction, the director now owns 5,375 shares of the company’s stock, valued at $483,750. The disclosure for this sale can be found here.
An institutional investor recently raised its position in IDEX Corp. stock. Utah Retirement Systems boosted its position in IDEX Corp. (NYSE:IEX) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.
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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