AMTEK (AME) Hits New 52-Week High at $74.53
AMTEK, Inc. (NYSE:AME) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $74.53 and last traded at $73.72, with a volume of 789100 shares. The stock had previously closed at $74.00.
Several research analysts have commented on the company. Royal Bank of Canada reissued a “buy” rating and set a $70.00 target price on shares of AMTEK in a research note on Friday, October 13th. Zacks Investment Research downgraded AMTEK from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Oppenheimer boosted their target price on AMTEK to $75.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. BMO Capital Markets boosted their target price on AMTEK from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Finally, Robert W. Baird reissued a “buy” rating and set a $70.00 target price on shares of AMTEK in a research note on Friday, October 6th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $74.00.
The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.59. The firm has a market cap of $17,234.41, a P/E ratio of 31.60, a PEG ratio of 2.19 and a beta of 1.36.
AMTEK (NYSE:AME) last released its quarterly earnings data 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 return on equity of 16.48% and a net margin of 13.37%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. equities analysts anticipate that AMTEK, Inc. will post 2.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, December 5th. AMTEK’s dividend payout ratio is currently 15.13%.
In other news, insider David A. Zapico sold 25,965 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $71.77, for a total value of $1,863,508.05. Following the completion of the transaction, the insider now owns 200,548 shares of the company’s stock, valued at $14,393,329.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas M. Montgomery sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $70.35, for a total value of $126,630.00. Following the completion of the transaction, the vice president now directly owns 19,947 shares of the company’s stock, valued at approximately $1,403,271.45. The disclosure for this sale can be found here. Insiders sold 30,815 shares of company stock valued at $2,209,220 in the last ninety days. 2.10% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia increased its position in 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 during the period. BB&T Investment Services Inc. acquired a new stake in AMTEK during the 2nd quarter valued at approximately $107,000. Acropolis Investment Management LLC acquired a new stake in AMTEK during the 4th quarter valued at approximately $108,000. Zions Bancorporation acquired a new stake in AMTEK during the 3rd quarter valued at approximately $150,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in AMTEK during the 2nd quarter valued at approximately $151,000. 84.76% of the stock is owned by institutional investors and hedge funds.
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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