BlackRock Inc. Has $844.06 Million Stake in AMTEK, Inc. (AME)
BlackRock Inc. grew its position in AMTEK, Inc. (NYSE:AME) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,935,315 shares of the technology company’s stock after acquiring an additional 111,864 shares during the period. BlackRock Inc. owned about 6.05% of AMTEK worth $844,062,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of AMTEK by 2.3% in the first quarter. Vanguard Group Inc. now owns 21,889,853 shares of the technology company’s stock valued at $1,183,804,000 after acquiring an additional 484,592 shares in the last quarter. FMR LLC boosted its holdings in shares of AMTEK by 3.4% in the first quarter. FMR LLC now owns 21,688,705 shares of the technology company’s stock valued at $1,172,925,000 after acquiring an additional 717,489 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of AMTEK by 9.0% in the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock valued at $569,372,000 after acquiring an additional 868,895 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of AMTEK by 2.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,743,890 shares of the technology company’s stock valued at $256,549,000 after acquiring an additional 107,817 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of AMTEK by 25.1% in the second quarter. Boston Partners now owns 4,301,460 shares of the technology company’s stock valued at $260,539,000 after acquiring an additional 862,044 shares in the last quarter. 85.62% of the stock is currently owned by institutional investors and hedge funds.
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In other AMTEK news, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total transaction of $189,720.00. Following the transaction, the director now owns 117,880 shares of the company’s stock, valued at approximately $7,454,731.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Wesley Hardin sold 2,600 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $64.51, for a total transaction of $167,726.00. Following the transaction, the insider now directly owns 59,698 shares in the company, valued at approximately $3,851,117.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,100 shares of company stock worth $454,181. 2.10% of the stock is owned by corporate insiders.
Shares of AMTEK, Inc. (NYSE AME) opened at 66.37 on Wednesday. The stock has a market cap of $15.32 billion, a P/E ratio of 29.12 and a beta of 1.31. The company’s 50-day moving average is $63.58 and its 200-day moving average is $59.77. AMTEK, Inc. has a 12-month low of $43.98 and a 12-month high of $66.49.
AMTEK (NYSE:AME) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. AMTEK’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. On average, analysts expect that AMTEK, Inc. will post $2.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 0.54%. AMTEK’s payout ratio is 15.79%.
Several brokerages have recently weighed in on AME. Zacks Investment Research downgraded shares of AMTEK from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded shares of AMTEK from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BMO Capital Markets lifted their target price on shares of AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. lifted their target price on shares of AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. AMTEK presently has an average rating of “Buy” and a consensus target price of $65.18.
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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