AMTEK, Inc. (AME) Shares Sold by Sandy Spring Bank
Sandy Spring Bank trimmed its position in shares of AMTEK, Inc. (NYSE:AME) by 27.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,347 shares of the technology company’s stock after selling 500 shares during the quarter. Sandy Spring Bank’s holdings in AMTEK were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in AMTEK by 2.3% during the first quarter. Vanguard Group Inc. now owns 21,889,853 shares of the technology company’s stock worth $1,183,804,000 after buying an additional 484,592 shares during the last quarter. FMR LLC grew its stake in AMTEK by 3.4% during the first quarter. FMR LLC now owns 21,688,705 shares of the technology company’s stock worth $1,172,925,000 after buying an additional 717,489 shares during the last quarter. BlackRock Inc. grew its stake in AMTEK by 0.8% during the second quarter. BlackRock Inc. now owns 13,935,315 shares of the technology company’s stock worth $844,062,000 after buying an additional 111,864 shares during the last quarter. Wellington Management Group LLP grew its stake in AMTEK by 9.0% during the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock worth $569,372,000 after buying an additional 868,895 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in AMTEK by 2.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,743,890 shares of the technology company’s stock worth $256,549,000 after buying an additional 107,817 shares during the last quarter. 85.62% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on AME shares. Zacks Investment Research cut shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. BMO Capital Markets reaffirmed a “buy” rating and set a $67.00 price objective on shares of AMTEK in a research note on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $67.00 price objective on shares of AMTEK in a research note on Tuesday, June 6th. Finally, BidaskClub cut shares of AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $65.18.
In related news, insider John Wesley Hardin sold 2,600 shares of AMTEK stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $64.51, for a total transaction of $167,726.00. Following the sale, the insider now directly owns 59,698 shares of the company’s stock, valued at approximately $3,851,117.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of AMTEK stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total transaction of $189,720.00. Following the sale, the director now directly owns 117,880 shares in the company, valued at $7,454,731.20. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock worth $454,181 over the last ninety days. 2.10% of the stock is currently owned by insiders.
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Shares of AMTEK, Inc. (AME) traded down 0.128% during trading on Tuesday, hitting $66.225. 35,836 shares of the stock were exchanged. AMTEK, Inc. has a 52 week low of $43.98 and a 52 week high of $66.36. The firm has a market capitalization of $15.28 billion, a P/E ratio of 29.059 and a beta of 1.31. The firm has a 50 day moving average price of $63.45 and a 200 day moving average price of $59.69.
AMTEK (NYSE:AME) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. Analysts forecast that AMTEK, Inc. will post $2.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, September 14th. AMTEK’s dividend payout ratio (DPR) is presently 15.79%.
AMTEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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