AHL Partners LLP raised its stake in shares of AMTEK, Inc. (NYSE:AME) by 28.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,825 shares of the technology company’s stock after purchasing an additional 8,862 shares during the period. AHL Partners LLP’s holdings in AMTEK were worth $2,412,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in AME. Commonwealth Bank of Australia raised its position in AMTEK by 17.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after purchasing an additional 263 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in AMTEK during the 2nd quarter worth $151,000. Acrospire Investment Management LLC raised its position in AMTEK by 104.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,300 shares during the last quarter. Van ECK Associates Corp raised its position in AMTEK by 7.0% during the 1st quarter. Van ECK Associates Corp now owns 3,008 shares of the technology company’s stock worth $163,000 after purchasing an additional 196 shares during the last quarter. Finally, QS Investors LLC raised its position in AMTEK by 0.9% during the 2nd quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after purchasing an additional 25 shares during the last quarter. 85.62% of the stock is owned by institutional investors and hedge funds.
AME has been the subject of several analyst reports. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, September 5th. Cowen and Company reissued an “outperform” rating and issued a $66.00 price objective (up from $62.00) on shares of AMTEK in a research report on Friday, July 7th. BMO Capital Markets lifted their price objective on AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, BidaskClub lowered AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.55.
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AMTEK (NYSE:AME) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) 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 company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. AMTEK’s revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that AMTEK, Inc. will post $2.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, September 14th. AMTEK’s payout ratio is currently 15.79%.
In related news, insider Frank S. Hermance sold 150,840 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $66.38, for a total value of $10,012,759.20. Following the completion of the transaction, the insider now directly owns 2,191,341 shares of the company’s stock, valued at $145,461,215.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 173,255 shares of company stock valued at $11,483,064. 2.10% of the stock is owned by insiders.
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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