Alta Advisers Ltd, a prominent institutional investor, recently filed with the Securities and Exchange Commission (SEC) for IDEX Co. (NYSE:IEX) has disclosed a new claim. According to the disclosure, Alta Advisors Limited has purchased 600 shares worth about one hundred thirty-seven thousand dollars of the industrial production company.

IDEX Corp. is an engineering solutions provider that operates through three business segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Miscellaneous Products. The Fluid and Metering Technology segment designs, manufactures and distributes displacement pumps, valves, flow meters, injectors, as well as fluid handling pump modules and systems.

Shares on the NYSE IEX traded down $1.07 during trading hours on Friday but had strong trading volume of 263,088 shares, compared to the average volume of 326,753. A market cap of $16.37 billion and a beta factor of 1.00 favors bullish investors’ interest in bearish sentiments, showing lower volatility than the overall market.

The firm’s current ratio stands at 2.57 while its quick ratio stands at 1.71 on its liquidity potential lending credibility which makes it less susceptible to short-term liabilities when cash is king in uncertain times in the market.

Furthermore, IDEX Co. ‘s financial stability can be observed from its P/E ratio which sits at 28.12 while their P/E/G ratio weighs at 2.12 which may indicate that high earnings potential is squarely placed in investing circles in favor of growth stock picks. Based on future revenue growth expectations.

The stock has fluctuated significantly between its low point ($172.18) and its high point ($246.23) over the past year, currently resting at $216, halfway between these points which could mean more potential upside for growth down the line.

Finally, given the ever-changing nature of the stock market and its unpredictability in certain periods, it remains for investors to perform due diligence and make informed investment decisions based on the data available to them. IDEX Co. The purchase by Alta Advisers Ltd for a new position in (NYSE:IEX) could indicate promising growth prospects that could be significant for the industrial products company in the future.

IDEX Corp has seen growth in institutional investors and hedge fund holdings

IDEX Corporation, a company specializing in engineering solutions, has recently seen an increase in institutional investors and hedge fund holdings. Parkside Financial Bank & Trust grew its holdings in IDEX by 120.3% in the Q1 and now owns 141 shares of the company’s stock valued at $27,000 after buying an additional 77 shares during the period. Allworth Financial LP also acquired an additional stake, upping its position by 491.2% now owning 201 shares valued at $40,000 in the Q3.

Furthermore, General Partner Inc. bought a new position in shares of IDEX worth $46,000 while Newfound Research LLC bought a new position in shares of IDEX worth about $59,000. Covington Capital Management lifted its position significantly 120.7% compounding with these purchases, the firm now owns 331 shares worth $66,000 after acquiring an additional 181 in the last quarter alone.

A total of 96.58% of the stock is owned by hedge funds and other institutional investors while CFO William K. Only 0.50% is owned by insiders since Grogan sold some of his shares that accumulated $720,051.

IDEX recorded revenue of $810.70 million during Q1 and a return on equity of 21.44%, with analysts’ consensus estimates of earnings per share (EPS) of $2.01 versus the $1.98 EPS expected from the industrial products company.

StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating on March 24 while Citigroup lowered its price objective on IDEX from $273 to $268 but maintained a “buy” rating for potential investors to take note.

Finally, despite recent changes in investment holdings with institutional players such as hedge funds increasing their stake(s), insiders continue to gradually withdraw from this securities name while IDEX continues to find new ways to strengthen its market position in the engineering solutions space.

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