AMTEK Target of Unusually Large Options Trading (AME)
AMTEK, Inc. (NYSE:AME) saw unusually large options trading on Friday. Traders purchased 3,067 put options on the stock. This is an increase of Infinity compared to the average volume of 0 put options.
Several analysts have commented on the stock. Oppenheimer Holdings, Inc. raised their price objective on shares of AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. BMO Capital Markets raised their price objective on shares of AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of AMTEK from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research lowered shares of AMTEK from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Morgan Stanley raised their price objective on shares of AMTEK from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $71.80.
In related news, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total value of $198,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank S. Hermance sold 150,840 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 2,191,341 shares in the company, valued at $145,461,215.58. The disclosure for this sale can be found here. Insiders sold 166,155 shares of company stock worth $11,028,883 over the last three months. 2.10% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in AME. Commonwealth Bank of Australia lifted its holdings 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 valued at $104,000 after purchasing an additional 263 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in shares of AMTEK during the second quarter valued at approximately $107,000. Zions Bancorporation purchased a new position in shares of AMTEK during the third quarter valued at approximately $150,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of AMTEK during the second quarter valued at approximately $151,000. Finally, Acrospire Investment Management LLC lifted its holdings 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 valued at $154,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.
AMTEK (NYSE:AME) opened at $69.49 on Wednesday. AMTEK has a 1-year low of $45.78 and a 1-year high of $70.26. The stock has a market cap of $15,769.13, a P/E ratio of 27.40, a PEG ratio of 2.32 and a beta of 1.33. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.
AMTEK (NYSE:AME) last released its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business earned $0.56 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. sell-side analysts predict that AMTEK will post 2.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.36 annualized dividend and a dividend yield of 0.52%. AMTEK’s payout ratio is 15.13%.
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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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