Private Advisor Group LLC Invests $552,000 in AMTEK, Inc. (AME) Stock
Private Advisor Group LLC bought a new position in AMTEK, Inc. (NYSE:AME) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,230 shares of the technology company’s stock, valued at approximately $552,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invictus RG purchased a new stake in shares of AMTEK during the third quarter valued at approximately $308,000. BB&T Investment Services Inc. boosted its stake in shares of AMTEK by 42.6% during the third quarter. BB&T Investment Services Inc. now owns 2,633 shares of the technology company’s stock valued at $179,000 after purchasing an additional 786 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new stake in shares of AMTEK during the third quarter valued at approximately $1,236,000. Stifel Financial Corp boosted its stake in shares of AMTEK by 29.3% during the third quarter. Stifel Financial Corp now owns 16,188 shares of the technology company’s stock valued at $1,071,000 after purchasing an additional 3,667 shares during the period. Finally, FDO Partners LLC purchased a new stake in shares of AMTEK during the third quarter valued at approximately $323,000. 84.40% of the stock is owned by institutional investors and hedge funds.
AMTEK, Inc. (AME) opened at $71.91 on Tuesday. 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 company has a market capitalization of $16,580.35, a P/E ratio of 28.81, a P/E/G ratio of 2.34 and a beta of 1.36. AMTEK, Inc. has a twelve month low of $48.21 and a twelve month high of $73.06.
AMTEK (NYSE:AME) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued 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 dividend yield of 0.50%. AMTEK’s dividend payout ratio is presently 15.13%.
AME has been the subject of a number of analyst reports. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, September 5th. Royal Bank of Canada reissued a “buy” rating and set a $70.00 price objective on shares of AMTEK in a research note on Friday, October 13th. Jefferies Group increased their price objective on AMTEK from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Oppenheimer increased their price objective on AMTEK to $75.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, BMO Capital Markets increased their price objective on AMTEK from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $71.80.
In related news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Zapico sold 25,965 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $71.77, for a total value of $1,863,508.05. Following the transaction, the insider now owns 200,548 shares of the company’s stock, valued at approximately $14,393,329.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,970 shares of company stock valued at $13,238,102. 2.10% of the stock is owned by corporate insiders.
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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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