Cubist Systematic Strategies LLC Buys 7,499 Shares of AMTEK, Inc. (AME)
Cubist Systematic Strategies LLC grew its holdings in AMTEK, Inc. (NYSE:AME) by 47.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,450 shares of the technology company’s stock after buying an additional 7,499 shares during the period. Cubist Systematic Strategies LLC’s holdings in AMTEK were worth $1,549,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AME. Commonwealth Bank of Australia lifted its position in shares of AMTEK by 17.7% in the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after buying an additional 263 shares during the last quarter. BB&T Investment Services Inc. acquired a new stake in shares of AMTEK in the second quarter valued at approximately $107,000. Zions Bancorporation acquired a new stake in shares of AMTEK in the third quarter valued at approximately $150,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of AMTEK in the second quarter valued at approximately $151,000. Finally, Acrospire Investment Management LLC lifted its position in shares of AMTEK by 104.0% in the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock valued at $154,000 after buying an additional 1,300 shares during the last quarter. 84.40% of the stock is owned by institutional investors.
In other AMTEK news, VP Thomas M. Montgomery sold 1,800 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.35, for a total transaction of $126,630.00. Following the transaction, the vice president now owns 19,947 shares in the company, valued at approximately $1,403,271.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Elizebeth R. Varet sold 3,050 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $71.83, for a total value of $219,081.50. Following the transaction, the director now owns 117,930 shares in the company, valued at approximately $8,470,911.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,970 shares of company stock worth $13,238,102. Corporate insiders own 2.10% of the company’s stock.
AMTEK (NYSE:AME) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. research analysts expect that AMTEK, Inc. will post 2.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.36 dividend on an annualized basis and a yield of 0.51%. AMTEK’s dividend payout ratio (DPR) is presently 15.13%.
A number of analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $80.00 price objective on shares of AMTEK in a research report on Monday, December 11th. Zacks Investment Research cut AMTEK from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “buy” rating on shares of AMTEK in a research report on Monday, December 11th. Robert W. Baird reaffirmed a “buy” rating and issued a $70.00 price objective on shares of AMTEK in a research report on Friday, October 6th. Finally, Morgan Stanley raised their price objective on AMTEK from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. AMTEK currently has a consensus rating of “Buy” and an average target price of $72.00.
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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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