Allianz Asset Management GmbH lessened its position in AMTEK, Inc. (NYSE:AME) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,414,037 shares of the technology company’s stock after selling 27,281 shares during the period. Allianz Asset Management GmbH owned about 1.04% of AMTEK worth $159,423,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of AME. Commonwealth Bank of Australia increased its holdings in shares of AMTEK by 17.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after purchasing an additional 263 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in AMTEK in the second quarter valued at about $107,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of AMTEK during the second quarter worth about $151,000. Acrospire Investment Management LLC increased its stake in shares of AMTEK by 104.0% during the second 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 during the period. Finally, QS Investors LLC increased its stake in AMTEK by 0.9% in the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock valued at $172,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 84.25% of the company’s stock.
In related news, VP Thomas M. Montgomery sold 1,800 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $70.35, for a total transaction of $126,630.00. Following the sale, the vice president now owns 19,947 shares of the company’s stock, valued at $1,403,271.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank S. Hermance sold 150,840 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $66.38, for a total transaction of $10,012,759.20. Following the completion of the transaction, the insider now owns 2,191,341 shares in the company, valued at approximately $145,461,215.58. The disclosure for this sale can be found here. Insiders sold a total of 171,005 shares of company stock valued at $11,374,594 over the last quarter. 2.10% of the stock is owned by company insiders.
AMTEK (NYSE:AME) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. AMTEK’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share. equities analysts forecast that AMTEK, Inc. will post 2.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.36 annualized dividend and a dividend yield of 0.50%. AMTEK’s payout ratio is currently 15.13%.
A number of research firms have commented on AME. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Monday, August 7th. BidaskClub cut AMTEK from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $71.80.
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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