State Treasurer State of Michigan reduced its stake in shares of AMTEK, Inc. (NYSE:AME) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,084 shares of the technology company’s stock after selling 5,500 shares during the period. State Treasurer State of Michigan’s holdings in AMTEK were worth $4,628,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its position in shares of AMTEK by 393.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 16,618 shares of the technology company’s stock valued at $1,098,000 after buying an additional 13,253 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of AMTEK during the 3rd quarter valued at about $5,947,000. Howe & Rusling Inc. lifted its position in shares of AMTEK by 1,911.4% during the 3rd quarter. Howe & Rusling Inc. now owns 3,339 shares of the technology company’s stock valued at $221,000 after buying an additional 3,173 shares in the last quarter. Eqis Capital Management Inc. lifted its position in shares of AMTEK by 4.8% during the 3rd quarter. Eqis Capital Management Inc. now owns 22,541 shares of the technology company’s stock valued at $1,489,000 after buying an additional 1,023 shares in the last quarter. Finally, W. E. Donoghue & Co. LLC purchased a new position in shares of AMTEK during the 2nd quarter valued at about $2,167,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.
In other AMTEK news, insider Frank S. Hermance sold 150,840 shares of AMTEK stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $66.38, for a total value of $10,012,759.20. Following the sale, the insider now owns 2,191,341 shares of the company’s stock, valued at approximately $145,461,215.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of AMTEK stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total value of $198,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,155 shares of company stock worth $11,218,603. Corporate insiders own 2.10% of the company’s stock.
AME has been the topic of a number of analyst reports. BidaskClub cut AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of AMTEK in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. lifted their price objective on AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. BMO Capital Markets lifted their price objective on AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. AMTEK presently has a consensus rating of “Buy” and an average price target of $71.60.
AMTEK, Inc. (NYSE AME) traded up $0.22 during midday trading on Friday, reaching $68.23. The company had a trading volume of 1,039,700 shares, compared to its average volume of 1,296,814. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. AMTEK, Inc. has a one year low of $45.78 and a one year high of $70.26. The stock has a market cap of $15,769.11, a PE ratio of 27.40, a PEG ratio of 2.32 and a beta of 1.33.
AMTEK (NYSE:AME) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, topping the Zacks’ 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 for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm earned $0.56 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. sell-side analysts predict that AMTEK, Inc. will post 2.58 earnings per share for the current fiscal year.
The company 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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.53%. AMTEK’s payout ratio is 15.13%.
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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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