AMTEK, Inc. (AME) Hits New 52-Week High at $67.11
AMTEK, Inc. (NYSE:AME) shares hit a new 52-week high on Monday . The stock traded as high as $67.11 and last traded at $67.11, with a volume of 623,332 shares traded. The stock had previously closed at $66.99.
AME has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $67.00 target price on shares of AMTEK in a research note on Tuesday, June 27th. Cowen and Company reaffirmed an “outperform” rating and set a $66.00 target price (up from $62.00) on shares of AMTEK in a research note on Friday, July 7th. Zacks Investment Research downgraded AMTEK from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub downgraded AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price objective on shares of AMTEK in a research note on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. AMTEK currently has an average rating of “Buy” and a consensus target price of $66.55.
The stock has a market capitalization of $15.49 billion, a PE ratio of 29.45 and a beta of 1.31. The company’s 50-day moving average is $64.63 and its 200-day moving average is $60.81.
AMTEK (NYSE:AME) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. AMTEK’s revenue was up 8.9% on a year-over-year basis. On average, analysts predict that AMTEK, Inc. will post $2.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.54%. AMTEK’s dividend payout ratio (DPR) is 15.79%.
In other news, insider Frank S. Hermance sold 150,840 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $66.38, for a total value of $10,012,759.20. Following the completion of the transaction, the insider now directly 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 SEC, which is accessible through this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total value of $198,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 173,255 shares of company stock valued at $11,483,064. Insiders own 2.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. raised its holdings in shares of AMTEK by 4.8% in the third quarter. Eqis Capital Management Inc. now owns 22,541 shares of the technology company’s stock worth $1,489,000 after acquiring an additional 1,023 shares during the last quarter. W. E. Donoghue & Co. LLC acquired a new position in shares of AMTEK in the second quarter worth $2,167,000. Sentry Investment Management LLC raised its holdings in shares of AMTEK by 1.1% in the second quarter. Sentry Investment Management LLC now owns 15,008 shares of the technology company’s stock worth $909,000 after acquiring an additional 157 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of AMTEK by 21.1% in the second quarter. Toronto Dominion Bank now owns 90,059 shares of the technology company’s stock worth $5,456,000 after acquiring an additional 15,686 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of AMTEK in the second quarter worth $1,072,000. 85.62% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This piece was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/09/amtek-inc-ame-hits-new-52-week-high-at-67-11.html.
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.
Receive News & Stock Ratings for AMTEK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMTEK Inc. and related stocks with our FREE daily email newsletter.