Prudential Financial Inc. raised its stake in shares of Amtek Inc. (NYSE:AME) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 325,948 shares of the company’s stock after buying an additional 29,600 shares during the period. Prudential Financial Inc. owned about 0.14% of Amtek worth $15,068,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Amtek during the second quarter valued at about $106,000. Stanley Laman Group Ltd. purchased a new stake in shares of Amtek during the second quarter worth about $201,000. Stephens Inc. AR raised its stake in shares of Amtek by 11.2% in the second quarter. Stephens Inc. AR now owns 4,851 shares of the company’s stock worth $224,000 after buying an additional 490 shares during the last quarter. ING Groep NV purchased a new stake in shares of Amtek during the first quarter worth about $269,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Amtek during the first quarter worth about $271,000. Institutional investors and hedge funds own 87.75% of the company’s stock.
Shares of Amtek Inc. (NYSE:AME) opened at 47.78 on Friday. Amtek Inc. has a 12-month low of $42.82 and a 12-month high of $57.00. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 19.98 and a beta of 1.29. The firm has a 50-day moving average of $48.32 and a 200 day moving average of $48.01.
Amtek (NYSE:AME) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analyst estimates of $986.35 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts forecast 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 given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, September 14th. Amtek’s payout ratio is currently 15.13%.
AME has been the subject of a number of recent research reports. Royal Bank Of Canada reduced their price objective on shares of Amtek from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Jefferies Group reduced their price target on Amtek from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $56.00 price target on shares of Amtek in a research report on Thursday, June 9th. RBC Capital Markets reaffirmed an “outperform” rating and set a $53.00 price target (down from $56.00) on shares of Amtek in a research report on Friday, August 5th. Finally, BMO Capital Markets set a $53.00 price target on Amtek and gave the stock a “buy” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Amtek has a consensus rating of “Buy” and an average price target of $53.09.
In other news, insider Thomas C. Marecic sold 6,500 shares of the stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $44.89, for a total value of $291,785.00. Following the completion of the sale, the insider now owns 29,526 shares of the company’s stock, valued at $1,325,422.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Wesley Hardin sold 24,500 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $49.59, for a total transaction of $1,214,955.00. Following the completion of the sale, the insider now directly owns 81,096 shares of the company’s stock, valued at approximately $4,021,550.64. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
Amtek Company Profile
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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