IDEX Co. (NYSE:IEX) Short Interest Update

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IDEX Co. (NYSE:IEX) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,470,000 shares, an increase of 5.8% from the October 31st total of 1,390,000 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 433,900 shares, the short-interest ratio is currently 3.4 days.

IEX has been the topic of a number of analyst reports. Citigroup initiated coverage on shares of IDEX in a research report on Monday, September 30th. They set a “neutral” rating and a $175.00 target price on the stock. ValuEngine lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Rosenblatt Securities initiated coverage on shares of IDEX in a research report on Thursday, November 7th. They set a “buy” rating and a $185.00 target price on the stock. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $175.57.

Shares of NYSE:IEX traded down $0.57 on Friday, reaching $162.74. 191,631 shares of the company’s stock were exchanged, compared to its average volume of 450,519. The company has a fifty day moving average of $159.99 and a 200-day moving average of $162.20. IDEX has a twelve month low of $117.72 and a twelve month high of $173.84. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.78 and a beta of 1.21. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.39.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.06. IDEX had a net margin of 17.05% and a return on equity of 21.28%. The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $641.66 million. During the same quarter in the prior year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that IDEX will post 5.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, January 14th. IDEX’s dividend payout ratio (DPR) is presently 36.97%.

In other IDEX news, Director Ernest J. Mrozek sold 6,650 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $160.24, for a total transaction of $1,065,596.00. Following the transaction, the director now owns 16,255 shares in the company, valued at approximately $2,604,701.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jeffrey D. Bucklew sold 4,680 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $162.97, for a total transaction of $762,699.60. Following the transaction, the senior vice president now owns 5,808 shares in the company, valued at approximately $946,529.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,543 shares of company stock worth $8,833,294. 1.20% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of IEX. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of IDEX by 0.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 69,239 shares of the industrial products company’s stock worth $10,506,000 after acquiring an additional 301 shares during the period. NEXT Financial Group Inc lifted its holdings in shares of IDEX by 8.9% during the 2nd quarter. NEXT Financial Group Inc now owns 1,807 shares of the industrial products company’s stock worth $311,000 after acquiring an additional 147 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of IDEX by 41.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,600 shares of the industrial products company’s stock worth $2,167,000 after acquiring an additional 3,702 shares during the period. Arizona State Retirement System lifted its holdings in shares of IDEX by 27.9% during the 2nd quarter. Arizona State Retirement System now owns 69,591 shares of the industrial products company’s stock worth $11,979,000 after acquiring an additional 15,167 shares during the period. Finally, Strs Ohio lifted its holdings in shares of IDEX by 131.8% during the 2nd quarter. Strs Ohio now owns 7,737 shares of the industrial products company’s stock worth $1,331,000 after acquiring an additional 4,399 shares during the period. 97.31% of the stock is owned by institutional investors.

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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