AMTEK, Inc. (AME) Hits New 1-Year High at $66.73
AMTEK, Inc. (NYSE:AME)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $66.73 and last traded at $66.83, with a volume of 888,104 shares traded. The stock had previously closed at $66.04.
A number of brokerages have recently issued reports on AME. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 price target on shares of AMTEK in a research report on Thursday, August 3rd. BidaskClub lowered AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $69.00 price target (up previously from $66.00) on shares of AMTEK in a research note on Thursday, June 8th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $67.00 price target on shares of AMTEK in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. AMTEK has an average rating of “Buy” and an average price target of $65.27.
The firm has a market cap of $15.42 billion, a PE ratio of 29.32 and a beta of 1.31. The firm’s 50-day moving average is $63.58 and its 200-day moving average is $59.77.
AMTEK (NYSE:AME) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. On average, equities research analysts predict that AMTEK, Inc. will post $2.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.54%. AMTEK’s payout ratio is 15.79%.
In other AMTEK news, VP Thomas M. Montgomery sold 1,500 shares of AMTEK stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $64.49, for a total value of $96,735.00. Following the sale, the vice president now owns 21,747 shares of the company’s stock, valued at approximately $1,402,464.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of AMTEK stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total value of $189,720.00. Following the completion of the sale, the director now directly owns 117,880 shares in the company, valued at approximately $7,454,731.20. The disclosure for this sale can be found here. Insiders have sold a total of 170,255 shares of company stock worth $11,284,164 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. UBS Asset Management Americas Inc. grew its stake in shares of AMTEK by 10.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 618,711 shares of the technology company’s stock worth $33,460,000 after acquiring an additional 59,494 shares in the last quarter. Keybank National Association OH bought a new stake in shares of AMTEK in the first quarter worth $247,000. Envestnet Asset Management Inc. lifted its position in shares of AMTEK by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 23,465 shares of the technology company’s stock worth $1,268,000 after purchasing an additional 334 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of AMTEK by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,191 shares of the technology company’s stock worth $227,000 after purchasing an additional 132 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of AMTEK by 33.2% in the first quarter. Stifel Financial Corp now owns 14,807 shares of the technology company’s stock worth $802,000 after purchasing an additional 3,692 shares in the last quarter. 85.62% of the stock is owned by institutional investors.
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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