IDEX Corporation (IEX) traded on unusually high volume on Dec. 10, as the stock gained 0.55% to close at $134.38. On the day, IDEX Corporation saw 760,670 shares trade hands on 6,861 trades. Considering that the stock averages only a daily volume of 441,862 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $157.84 and $123.47 over the last 52-weeks, its 50-day SMA is now $136.58, and its 200-day SMA $141.44. IDEX Corporation has a P/B ratio of 5. It also has a P/E ratio of 25.6.
Idex manufactures pumps, flow meters, fluidic systems, components, and engineered products to customers in many industries around the world. The company owns subsidiaries to offer applied solutions, and maintains several platforms to create an extensive product portfolio. It has three operating segments: fluid and metering technologies, health and science technologies, and fire and safety diversified products. The fluid and metering technologies segment generates roughly half of total revenue, and helps provide flow monitoring and other services for the food, chemical, industrial, water, agriculture, and energy markets. Approximately 50% of sales are derived from the United States, and no country outside the region constitutes more than one third of total sales.
Headquartered in Lake Forest, IL, IDEX Corporation has 7,167 employees and is currently under the leadership of CEO Andrew K. Silvernail.