IDEX Co. (NYSE:IEX) Short Interest Update

IDEX Co. (NYSE:IEX) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 748,600 shares, a decrease of 7.1% from the March 15th total of 805,500 shares. Based on an average trading volume of 377,800 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB grew its stake in IDEX by 1,196.4% in the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock valued at $29,598,000 after purchasing an additional 125,348 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in IDEX by 4.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after purchasing an additional 84,502 shares during the last quarter. Lincoln National Corp lifted its holdings in IDEX by 7.1% during the 3rd quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 104 shares during the last quarter. Deutsche Bank AG lifted its holdings in IDEX by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock worth $50,884,000 after purchasing an additional 28,661 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in IDEX by 11.2% during the 4th quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock worth $16,601,000 after purchasing an additional 7,684 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Down 1.1 %

NYSE:IEX opened at $226.83 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. The company has a market cap of $17.17 billion, a PE ratio of 28.93, a PEG ratio of 2.30 and a beta of 0.97. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The stock has a 50-day simple moving average of $236.43 and a 200 day simple moving average of $215.81.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $788.90 million during the quarter, compared to the consensus estimate of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. IDEX’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company earned $2.01 earnings per share. On average, sell-side analysts expect that IDEX will post 8.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IEX. StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Finally, Citigroup increased their price target on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.00.

IDEX Company Profile

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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.