Shares of AMTEK, Inc. (NYSE:AME) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $66.37 and last traded at $66.36, with a volume of 476,744 shares. The stock had previously closed at $66.31.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of AMTEK from a “buy” rating to a “hold” rating in a report on Tuesday. Oppenheimer Holdings, Inc. increased their price target on shares of AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and set a $66.00 price target on shares of AMTEK in a report on Thursday, August 3rd. BMO Capital Markets increased their price target on shares of AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of AMTEK from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. AMTEK presently has a consensus rating of “Buy” and a consensus price target of $65.18.
The stock’s 50-day moving average is $63.45 and its 200-day moving average is $59.68. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 29.12 and a beta of 1.31.
AMTEK (NYSE:AME) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts predict that AMTEK, Inc. will post $2.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.54%. AMTEK’s dividend payout ratio (DPR) is presently 15.79%.
In related news, insider John Wesley Hardin sold 2,600 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $64.51, for a total value of $167,726.00. Following the sale, the insider now directly owns 59,698 shares in the company, valued at approximately $3,851,117.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $63.24, for a total transaction of $189,720.00. Following the completion of the sale, the director now owns 117,880 shares in the company, valued at $7,454,731.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,100 shares of company stock worth $454,181. Corporate insiders own 2.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AME. Commonwealth Bank of Australia boosted its position in shares of AMTEK by 17.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after buying an additional 263 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of AMTEK in the 2nd quarter worth about $107,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of AMTEK in the 2nd quarter worth about $151,000. Acrospire Investment Management LLC boosted its position in shares of AMTEK by 104.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after buying an additional 1,300 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of AMTEK by 7.0% in the 1st quarter. Van ECK Associates Corp now owns 3,008 shares of the technology company’s stock worth $163,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds own 85.62% 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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