IDEX Co. (NYSE:IEX) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,187,800 shares, an increase of 17.1% from the July 31st total of 1,014,700 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 719,600 shares, the short-interest ratio is currently 1.7 days.

Several equities research analysts have recently issued reports on IEX shares. Wells Fargo & Co raised their price target on shares of IDEX from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus raised their price target on shares of IDEX from $157.00 to $162.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Zacks Investment Research lowered shares of IDEX from a “buy” rating to a “hold” rating and set a $181.00 price target for the company. in a research note on Monday, July 1st. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. IDEX has an average rating of “Hold” and an average target price of $162.38.

IDEX stock traded up $1.37 during mid-day trading on Friday, reaching $170.88. The company’s stock had a trading volume of 373,096 shares, compared to its average volume of 401,090. IDEX has a 12-month low of $117.72 and a 12-month high of $173.84. The company has a market capitalization of $12.72 billion, a P/E ratio of 31.59, a PEG ratio of 3.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.53 and a current ratio of 3.36. The firm’s fifty day moving average price is $164.41 and its two-hundred day moving average price is $158.57.

IDEX (NYSE:IEX) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. IDEX had a net margin of 17.11% and a return on equity of 21.20%. The business had revenue of $642.10 million during the quarter, compared to analyst estimates of $655.87 million. During the same period in the previous year, the business earned $1.40 EPS. IDEX’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts predict that IDEX will post 5.83 EPS for the current fiscal year.

In other IDEX news, Chairman Andrew K. Silvernail sold 85,785 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $167.75, for a total value of $14,390,433.75. Following the completion of the sale, the chairman now owns 258,604 shares in the company, valued at approximately $43,380,821. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William M. Cook sold 4,080 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $161.93, for a total transaction of $660,674.40. Following the sale, the director now owns 22,308 shares of the company’s stock, valued at approximately $3,612,334.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,229 shares of company stock valued at $25,975,905. Company insiders own 1.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. boosted its holdings in IDEX by 64.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 72 shares during the period. Parallel Advisors LLC lifted its holdings in shares of IDEX by 55.7% during the 1st quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 73 shares during the last quarter. Bbva USA Bancshares Inc. lifted its holdings in shares of IDEX by 1.3% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 5,835 shares of the industrial products company’s stock worth $1,004,000 after acquiring an additional 74 shares during the last quarter. ETF Managers Group LLC lifted its holdings in shares of IDEX by 8.9% during the 1st quarter. ETF Managers Group LLC now owns 1,013 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 83 shares during the last quarter. Finally, Farr Miller & Washington LLC DC lifted its holdings in shares of IDEX by 3.7% during the 2nd quarter. Farr Miller & Washington LLC DC now owns 2,495 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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