Montag & Caldwell LLC reduced its stake in Amtek Inc. (NYSE:AME) by 45.6% during the second quarter, Holdings Channel reports. The fund owned 9,452 shares of the company’s stock after selling 7,928 shares during the period. Montag & Caldwell LLC’s holdings in Amtek were worth $437,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in AME. Conning Inc. increased its stake in Amtek by 1.8% in the second quarter. Conning Inc. now owns 5,603 shares of the company’s stock valued at $259,000 after buying an additional 100 shares during the last quarter. ING Groep NV acquired a new stake in shares of Amtek during the first quarter worth $269,000. Magnetar Financial LLC acquired a new stake in shares of Amtek during the first quarter worth $271,000. Shufro Rose & Co. LLC increased its stake in shares of Amtek by 22.3% in the first quarter. Shufro Rose & Co. LLC now owns 6,574 shares of the company’s stock worth $329,000 after buying an additional 1,199 shares in the last quarter. Finally, Capital One National Association increased its stake in shares of Amtek by 7.7% in the second quarter. Capital One National Association now owns 7,858 shares of the company’s stock worth $363,000 after buying an additional 563 shares in the last quarter. 87.75% of the stock is owned by institutional investors.
Shares of Amtek Inc. (NYSE:AME) traded up 2.10% during mid-day trading on Wednesday, hitting $48.12. 2,195,483 shares of the stock were exchanged. The company’s 50-day moving average is $48.28 and its 200-day moving average is $47.96. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 20.13 and a beta of 1.21. Amtek Inc. has a 1-year low of $42.82 and a 1-year high of $57.00.
Amtek (NYSE:AME) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. Amtek had a net margin of 14.47% and a return on equity of 17.53%. The company earned $977.70 million during the quarter, compared to analysts’ expectations of $986.35 million. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue was down 2.6% on a year-over-year basis. Equities research analysts anticipate that Amtek Inc. will post $2.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, September 14th. Amtek’s dividend payout ratio is 15.13%.
AME has been the subject of a number of recent research reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $56.00 price objective on shares of Amtek in a research report on Thursday, June 9th. Jefferies Group lowered their price objective on shares of Amtek from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. RBC Capital Markets reaffirmed an “outperform” rating and set a $53.00 price objective (down previously from $56.00) on shares of Amtek in a research report on Friday, August 5th. Stifel Nicolaus lowered their price objective on shares of Amtek from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Finally, BMO Capital Markets set a $53.00 price objective on shares of Amtek and gave the company a “buy” rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $53.09.
In other news, insider John Wesley Hardin sold 24,500 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $49.59, for a total value of $1,214,955.00. Following the completion of the transaction, the insider now owns 81,096 shares in the company, valued at approximately $4,021,550.64. The sale was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by insiders.
AMETEK, Inc (AMETEK) is a manufacturer of electronic instruments and electromechanical devices. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.
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