AMTEK, Inc. (AME) Holdings Lifted by Capital Research Global Investors
Capital Research Global Investors grew its position in AMTEK, Inc. (NYSE:AME) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,277,378 shares of the technology company’s stock after purchasing an additional 121,862 shares during the period. Capital Research Global Investors owned approximately 2.72% of AMTEK worth $380,221,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AME. Commonwealth Bank of Australia boosted its position in shares of AMTEK by 17.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after purchasing an additional 263 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in AMTEK during the second quarter worth approximately $151,000. Acrospire Investment Management LLC boosted its holdings in AMTEK by 104.0% during the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after buying an additional 1,300 shares in the last quarter. Van ECK Associates Corp boosted its holdings in AMTEK by 7.0% during the first quarter. Van ECK Associates Corp now owns 3,008 shares of the technology company’s stock worth $163,000 after buying an additional 196 shares in the last quarter. Finally, QS Investors LLC grew its position in AMTEK by 0.9% in the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 85.62% of the company’s stock.
Several research analysts have recently weighed in on AME shares. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Thursday, September 21st. BMO Capital Markets upped their price target on AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. increased their price objective on AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC restated a “buy” rating and set a $66.00 price objective on shares of AMTEK in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $65.27.
In other news, insider Frank S. Hermance sold 150,840 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $66.38, for a total transaction of $10,012,759.20. Following the completion of the transaction, the insider now owns 2,191,341 shares of the company’s stock, valued at $145,461,215.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 117,880 shares of the company’s stock, valued at approximately $7,454,731.20. The disclosure for this sale can be found here. Insiders sold 170,255 shares of company stock worth $11,284,164 over the last three months. 2.10% of the stock is currently owned by insiders.
Shares of AMTEK, Inc. (AME) traded up 0.81% during mid-day trading on Wednesday, reaching $66.83. The company had a trading volume of 95,760 shares. AMTEK, Inc. has a 12-month low of $43.98 and a 12-month high of $66.89. The firm’s 50 day moving average is $64.29 and its 200-day moving average is $60.62. The stock has a market capitalization of $15.42 billion, a P/E ratio of 29.32 and a beta of 1.31.
AMTEK (NYSE:AME) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. On average, analysts expect that AMTEK, Inc. will post $2.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.09 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.54%. AMTEK’s dividend payout ratio (DPR) is 15.79%.
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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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