Is IDEX Corporation (IEX) A Worthy Stock Investment?

Weitz Investment Management, an investment management firm, published its “Partners Value Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of +0.03% was recorded by the fund for the third quarter of 2021, compared to +0.58% for the S&P 500 and -0.10% for the Russell 3000 respectively for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Weitz Partners Value Fund, in its Q3 2021 investor letter, mentioned IDEX Corporation (NYSE: IEX) and discussed its stance on the firm. IDEX Corporation is a Lake Forest, Illinois-based manufacturing company with a $17.8 billion market capitalization. IEX delivered a 17.96% return since the beginning of the year, while its 12-month returns are up by 19.50%. The stock closed at $234.97 per share on December 29, 2021.

Here is what Weitz Partners Value Fund has to say about IDEX Corporation  in its Q3 2021 investor letter:

“We believe that investing in businesses of all sizes, using our Quality at a Discount framework, is an enduring advantage of a multi-cap strategy. Recent mid-cap additions such as IDEX, are well aligned with our collective vision for a successful “go anywhere” equity portfolio. We look forward to building on the Fund’s recent momentum.”

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Based on our calculations, IDEX Corporation (NYSE: IEX) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. IEX was in 18 hedge fund portfolios at the end of the third quarter of 2021, compared to 22 funds in the previous quarter. IDEX Corporation (NYSE: IEX) delivered a 10.31% return in the past 3 months.

Earlier this month, we published an article that includes IEX in the 5 Stocks to Buy According to Ian Simm’s Impax Management. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.