Do Hedge Funds Love IDEX Corporation (IEX)?

We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article we look at what those investors think of IDEX Corporation (NYSE:IEX).

Hedge fund interest in IDEX Corporation (NYSE:IEX) shares was flat at the end of last quarter. This is usually a negative indicator. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), Agnico-Eagle Mines Limited (USA) (NYSE:AEM), and Flowserve Corporation (NYSE:FLS) to gather more data points.

Today there are a multitude of formulas stock market investors have at their disposal to grade their stock investments. A pair of the most underrated formulas are hedge fund and insider trading signals. Our experts have shown that, historically, those who follow the best picks of the best hedge fund managers can beat the S&P 500 by a superb margin (see the details here).

Keeping this in mind, we’re going to view the new action regarding IDEX Corporation (NYSE:IEX).

What does the smart money think about IDEX Corporation (NYSE:IEX)?

At the end of the third quarter, a total of 15 of the hedge funds tracked by Insider Monkey held long positions in this stock, unchanged over the quarter. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, GAMCO Investors, managed by Mario Gabelli, holds the number one position in IDEX Corporation (NYSE:IEX). GAMCO Investors has a $71.6 million position in the stock, comprising 0.5% of its 13F portfolio. Sitting at the No. 2 spot is Impax Asset Management, led by Ian Simm, holding a $35.6 million position; 2.5% of its 13F portfolio is allocated to the company. Other peers that hold long positions consist of Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC, Jonathan Barrett and Paul Segal’s Luminus Management, and Chuck Royce’s Royce & Associates.