Flossbach Von Storch AG Has $42,203,000 Stake in Amtek Inc. (AME)
Flossbach Von Storch AG boosted its stake in Amtek Inc. (NYSE:AME) by 92.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 912,900 shares of the company’s stock after buying an additional 438,700 shares during the period. Amtek accounts for 0.7% of Flossbach Von Storch AG’s portfolio, making the stock its 25th largest position. Flossbach Von Storch AG owned about 0.39% of Amtek worth $42,203,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AME. Renaissance Technologies LLC purchased a new position in Amtek during the first quarter valued at $56,980,000. Adage Capital Partners GP L.L.C. boosted its stake in Amtek by 218.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 866,142 shares of the company’s stock valued at $43,290,000 after buying an additional 594,257 shares in the last quarter. Bank of Montreal Can bought a new stake in Amtek during the second quarter valued at approximately $19,340,000. Giverny Capital Inc. boosted its stake in Amtek by 118.4% in the first quarter. Giverny Capital Inc. now owns 764,717 shares of the company’s stock valued at $38,221,000 after buying an additional 414,510 shares in the last quarter. Finally, Moore Capital Management LP boosted its stake in Amtek by 211.4% in the first quarter. Moore Capital Management LP now owns 426,000 shares of the company’s stock valued at $21,291,000 after buying an additional 289,200 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Amtek Inc. (NYSE:AME) traded down 0.61% during mid-day trading on Tuesday, hitting $47.14. 2,381,079 shares of the stock were exchanged. The firm has a 50-day moving average price of $48.31 and a 200 day moving average price of $47.98. The company has a market capitalization of $10.96 billion, a PE ratio of 19.72 and a beta of 1.21. Amtek Inc. has a 12-month low of $42.82 and a 12-month high of $57.00.
Amtek (NYSE:AME) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. The company earned $977.70 million during the quarter, compared to analysts’ expectations of $986.35 million. Amtek had a return on equity of 17.53% and a net margin of 14.47%. Amtek’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. On average, equities research analysts expect that Amtek Inc. will post $2.30 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. Amtek’s dividend payout ratio (DPR) is presently 15.13%.
AME has been the subject of several research reports. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $56.00 price target on shares of Amtek in a report on Thursday, June 9th. Royal Bank Of Canada decreased their price target on shares of Amtek from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, August 5th. BMO Capital Markets set a $53.00 price target on shares of Amtek and gave the stock a “buy” rating in a report on Friday, August 5th. Stifel Nicolaus decreased their price target on shares of Amtek from $56.00 to $50.00 and set a “buy” rating for the company in a report on Friday, August 5th. Finally, RBC Capital Markets restated an “outperform” rating and set a $53.00 price target (down from $56.00) on shares of Amtek in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Amtek currently has a consensus rating of “Buy” and an average price target of $53.09.
In related news, insider Thomas C. Marecic sold 6,500 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $44.89, for a total transaction of $291,785.00. Following the completion of the sale, the insider now directly owns 29,526 shares of the company’s stock, valued at approximately $1,325,422.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Wesley Hardin sold 2,775 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $49.70, for a total value of $137,917.50. Following the sale, the insider now directly owns 45,371 shares of the company’s stock, valued at $2,254,938.70. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Amtek Company Profile
AMETEK, Inc (AMETEK) is a manufacturer of electronic instruments and electromechanical devices. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.
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