Teacher Retirement System of Texas increased its position in shares of Amtek Inc. (NYSE:AME) by 30.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,859 shares of the company’s stock after buying an additional 3,905 shares during the period. Teacher Retirement System of Texas’ holdings in Amtek were worth $779,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Amtek by 40.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,121 shares of the company’s stock valued at $106,000 after buying an additional 612 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Amtek during the second quarter valued at $106,000. Stanley Laman Group Ltd. acquired a new stake in shares of Amtek during the second quarter valued at $201,000. Stephens Inc. AR increased 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 valued at $224,000 after buying an additional 490 shares during the last quarter. Finally, Conning Inc. increased its stake in shares of 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. 87.75% of the stock is currently owned by institutional investors and hedge funds.
Amtek Inc. (NYSE:AME) traded down 0.11% during midday trading on Wednesday, reaching $47.52. The company had a trading volume of 289,439 shares. Amtek Inc. has a 12 month low of $42.82 and a 12 month high of $57.00. The stock has a market cap of $11.04 billion, a P/E ratio of 19.87 and a beta of 1.29. The firm has a 50-day moving average of $48.29 and a 200-day moving average of $48.02.
Amtek (NYSE:AME) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $977.70 million for the quarter, compared to the consensus estimate of $986.35 million. Amtek had a return on equity of 17.53% and a net margin of 14.47%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, equities analysts expect that Amtek Inc. will post $2.30 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Wednesday, September 14th. Amtek’s dividend payout ratio (DPR) is presently 15.13%.
Several analysts recently weighed in on AME shares. BMO Capital Markets set a $53.00 target price on Amtek and gave the company a “buy” rating in a research note on Friday, August 5th. Stifel Nicolaus decreased their target price on Amtek from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Jefferies Group decreased their target price on Amtek from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. RBC Capital Markets reiterated an “outperform” rating and issued a $53.00 price objective (down previously from $56.00) on shares of Amtek in a research report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. reduced their price objective on Amtek from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Amtek presently has an average rating of “Buy” and a consensus price target of $53.09.
In other Amtek news, insider Thomas C. Marecic sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $44.89, for a total transaction of $291,785.00. Following the transaction, the insider now owns 29,526 shares of the company’s stock, valued at $1,325,422.14. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Wesley Hardin sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $46.02, for a total value of $138,060.00. Following the transaction, the insider now directly owns 48,146 shares in the company, valued at approximately $2,215,678.92. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
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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