IDEX Co. (NYSE:IEX) Short Interest Update

Posted by on Jun 1st, 2022

IDEX Co. (NYSE:IEX – Get Rating) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 990,200 shares, an increase of 23.1% from the April 30th total of 804,600 shares. Based on an average daily trading volume, of 479,500 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.3% of the shares of the stock are sold short.

Several equities research analysts have recently weighed in on IEX shares. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Citigroup raised their price target on IDEX from $232.00 to $235.00 in a report on Thursday, April 28th. DA Davidson reissued a “neutral” rating on shares of IDEX in a research note on Thursday, April 28th. Loop Capital lowered their target price on IDEX from $225.00 to $210.00 in a research note on Monday, April 4th. Finally, Cowen upgraded shares of IDEX from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Wednesday, March 9th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $225.10.

A number of institutional investors have recently modified their holdings of IEX. Kestra Private Wealth Services LLC increased its position in shares of IDEX by 7.1% during the first quarter. Kestra Private Wealth Services LLC now owns 1,292 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 86 shares in the last quarter. Toroso Investments LLC increased its holdings in IDEX by 8.3% during the 1st quarter. Toroso Investments LLC now owns 5,970 shares of the industrial products company’s stock worth $1,145,000 after purchasing an additional 457 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of IDEX by 7.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 118,856 shares of the industrial products company’s stock valued at $22,788,000 after purchasing an additional 8,397 shares during the period. Beacon Pointe Advisors LLC bought a new stake in shares of IDEX in the first quarter valued at about $205,000. Finally, Quantbot Technologies LP boosted its position in shares of IDEX by 158.0% during the first quarter. Quantbot Technologies LP now owns 14,877 shares of the industrial products company’s stock worth $2,852,000 after buying an additional 9,111 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of IDEX stock traded down $0.08 on Wednesday, hitting $191.47. 13,722 shares of the company’s stock traded hands, compared to its average volume of 444,344. The firm’s 50-day moving average price is $191.03 and its two-hundred day moving average price is $206.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.59 and a quick ratio of 2.68. The stock has a market capitalization of $14.55 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.08 and a beta of 1.05. IDEX has a one year low of $179.30 and a one year high of $240.33.

IDEX (NYSE:IEX – Get Rating) last released its earnings results on Tuesday, April 26th. The industrial products company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.22. The firm had revenue of $751.10 million for the quarter, compared to analyst estimates of $721.21 million. IDEX had a return on equity of 18.61% and a net margin of 16.65%. During the same quarter in the prior year, the firm posted $1.51 earnings per share. On average, analysts forecast that IDEX will post 7.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Tuesday, May 17th were issued a $0.60 dividend. This is a positive change from IDEX’s previous quarterly dividend of $0.54. The ex-dividend date was Monday, May 16th. This represents a $2.40 annualized dividend and a dividend yield of 1.25%. IDEX’s payout ratio is 38.52%.

IDEX Company Profile (Get Rating)

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, small volume provers, 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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