Retirement Systems of Alabama Buys 647 Shares of AMTEK, Inc. (AME)
Retirement Systems of Alabama increased its stake in shares of AMTEK, Inc. (NYSE:AME) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,569 shares of the technology company’s stock after buying an additional 647 shares during the period. Retirement Systems of Alabama’s holdings in AMTEK were worth $6,758,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in AMTEK by 2.3% in the first quarter. Vanguard Group Inc. now owns 21,889,853 shares of the technology company’s stock worth $1,183,804,000 after buying an additional 484,592 shares during the last quarter. FMR LLC boosted its position in shares of AMTEK by 3.4% in the first quarter. FMR LLC now owns 21,688,705 shares of the technology company’s stock valued at $1,172,925,000 after buying an additional 717,489 shares during the last quarter. BlackRock Inc. boosted its position in shares of AMTEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock valued at $747,572,000 after buying an additional 13,392,716 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of AMTEK by 9.0% in the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock valued at $569,372,000 after buying an additional 868,895 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of AMTEK by 2.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,743,890 shares of the technology company’s stock valued at $256,549,000 after buying an additional 107,817 shares during the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.
AMTEK, Inc. (AME) opened at 63.11 on Wednesday. The company has a market cap of $14.57 billion, a P/E ratio of 27.69 and a beta of 1.34. The company has a 50-day moving average of $62.00 and a 200 day moving average of $57.99. AMTEK, Inc. has a one year low of $43.98 and a one year high of $64.97.
AMTEK (NYSE:AME) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Equities research analysts predict that AMTEK, Inc. will post $2.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, September 14th. AMTEK’s dividend payout ratio is currently 15.79%.
A number of brokerages have issued reports on AME. BidaskClub cut shares of AMTEK from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research upgraded shares of AMTEK from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Monday, August 7th. BMO Capital Markets raised their price target on shares of AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. raised their price target on shares of AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price objective on shares of AMTEK in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $65.09.
In other AMTEK news, insider John Wesley Hardin sold 2,600 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $64.51, for a total value of $167,726.00. Following the completion of the sale, the insider now owns 59,698 shares in the company, valued at $3,851,117.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $61.96, for a total transaction of $185,880.00. Following the completion of the sale, the director now owns 123,880 shares of the company’s stock, valued at approximately $7,675,604.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,370 shares of company stock valued at $3,622,419. Corporate insiders own 2.10% of the company’s stock.
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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