Port Capital LLC Raises Stake in AMETEK, Inc. (AME)
Port Capital LLC raised its position in shares of AMETEK, Inc. (NYSE:AME) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 345,290 shares of the technology company’s stock after acquiring an additional 6,730 shares during the period. AMETEK makes up approximately 3.3% of Port Capital LLC’s investment portfolio, making the stock its 2nd largest position. Port Capital LLC owned about 0.15% of AMETEK worth $27,319,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of AME. BlackRock Inc. raised its position in shares of AMETEK by 11.8% in the second quarter. BlackRock Inc. now owns 18,178,345 shares of the technology company’s stock valued at $1,311,749,000 after buying an additional 1,922,878 shares in the last quarter. FMR LLC raised its position in shares of AMETEK by 4.3% in the third quarter. FMR LLC now owns 8,902,761 shares of the technology company’s stock valued at $704,386,000 after buying an additional 366,654 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of AMETEK by 1.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,530,241 shares of the technology company’s stock valued at $437,553,000 after buying an additional 82,638 shares in the last quarter. Boston Partners raised its position in shares of AMETEK by 3.4% in the second quarter. Boston Partners now owns 5,436,691 shares of the technology company’s stock valued at $392,311,000 after buying an additional 179,026 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of AMETEK by 10.4% in the third quarter. American Century Companies Inc. now owns 4,237,926 shares of the technology company’s stock valued at $335,305,000 after buying an additional 400,177 shares in the last quarter. Institutional investors own 84.63% of the company’s stock.
In other news, Director Thomas A. Amato acquired 2,000 shares of the stock in a transaction on Monday, November 12th. The stock was acquired at an average cost of $73.14 per share, for a total transaction of $146,280.00. Following the completion of the transaction, the director now directly owns 7,510 shares in the company, valued at $549,281.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizebeth R. Varet sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $78.10, for a total transaction of $117,150.00. Following the transaction, the director now owns 4,148 shares of the company’s stock, valued at $323,958.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,925 shares of company stock valued at $4,117,580. Company insiders own 2.10% of the company’s stock.
AME traded down $1.80 during trading on Thursday, hitting $70.28. 7,170 shares of the stock traded hands, compared to its average volume of 1,588,998. AMETEK, Inc. has a twelve month low of $64.91 and a twelve month high of $81.92. The company has a market cap of $16.73 billion, a P/E ratio of 26.89, a P/E/G ratio of 1.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.42.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. AMETEK had a net margin of 17.06% and a return on equity of 17.08%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. On average, analysts expect that AMETEK, Inc. will post 3.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.56 annualized dividend and a yield of 0.80%. AMETEK’s dividend payout ratio is currently 21.46%.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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