W. E. Donoghue & Co. LLC Takes $2.17 Million Position in AMTEK, Inc. (AME)
W. E. Donoghue & Co. LLC acquired a new position in shares of AMTEK, Inc. (NYSE:AME) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,775 shares of the technology company’s stock, valued at approximately $2,167,000.
Several other institutional investors and hedge funds also recently modified their holdings of AME. Commonwealth Bank of Australia lifted its stake in shares of AMTEK by 17.7% during the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after purchasing an additional 263 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in shares of AMTEK during the second quarter worth about $107,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of AMTEK during the second quarter worth about $151,000. Acrospire Investment Management LLC lifted its stake in shares of 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 purchasing an additional 1,300 shares in the last quarter. Finally, QS Investors LLC lifted its stake in shares of AMTEK by 0.9% during the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 85.56% of the company’s stock.
In related news, VP Thomas M. Montgomery sold 1,500 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the completion of the sale, the vice president now owns 21,747 shares in the company, valued at $1,402,464.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $66.30, for a total transaction of $198,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,255 shares of company stock valued at $11,483,064. 2.10% of the stock is owned by corporate insiders.
AMTEK, Inc. (NYSE:AME) opened at 68.58 on Friday. AMTEK, Inc. has a 1-year low of $43.98 and a 1-year high of $68.83. The firm has a market cap of $15.83 billion, a PE ratio of 30.09 and a beta of 1.31. The company has a 50 day moving average price of $66.04 and a 200 day moving average price of $61.80.
AMTEK (NYSE:AME) last released its earnings results 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. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that AMTEK, Inc. will post $2.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Thursday, September 14th. AMTEK’s payout ratio is presently 15.79%.
AME has been the topic of a number of recent research reports. Jefferies Group LLC boosted their price objective on AMTEK from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Stifel Nicolaus set a $70.00 price target on AMTEK and gave the stock a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research cut AMTEK from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Robert W. Baird reiterated a “buy” rating and issued a $70.00 price target on shares of AMTEK in a research note on Friday, October 6th. Finally, BMO Capital Markets boosted their price target on AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $67.82.
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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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