AMTEK, Inc. (AME) Short Interest Update

AMTEK, Inc. (NYSE:AME) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 3,285,049 shares, an increase of 58.7% from the November 15th total of 2,069,642 shares. Based on an average daily volume of 1,479,031 shares, the short-interest ratio is presently 2.2 days. Currently, 1.4% of the company’s stock are sold short.

Shares of AMTEK (AME) opened at $72.60 on Friday. AMTEK has a 12-month low of $48.21 and a 12-month high of $73.06. The stock has a market capitalization of $16,783.73, a price-to-earnings ratio of 30.50, a PEG ratio of 2.37 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.59.

AMTEK (NYSE:AME) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm posted $0.56 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. sell-side analysts predict that AMTEK will post 2.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Tuesday, December 5th. AMTEK’s dividend payout ratio is presently 15.13%.

In related news, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total value of $198,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas M. Montgomery sold 1,800 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $70.35, for a total value of $126,630.00. Following the transaction, the vice president now owns 19,947 shares in the company, valued at $1,403,271.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,815 shares of company stock worth $2,408,120. 2.10% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. purchased a new stake in AMTEK in the 3rd quarter worth about $2,710,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in AMTEK by 1.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 633,825 shares of the technology company’s stock valued at $38,391,000 after buying an additional 9,831 shares in the last quarter. Janus Henderson Group PLC grew its holdings in AMTEK by 22,076.4% during the 2nd quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock valued at $387,870,000 after buying an additional 6,374,794 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in AMTEK by 1.4% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 109,475 shares of the technology company’s stock valued at $7,230,000 after buying an additional 1,500 shares in the last quarter. Finally, Keybank National Association OH grew its holdings in AMTEK by 4.0% during the 2nd quarter. Keybank National Association OH now owns 4,742 shares of the technology company’s stock valued at $287,000 after buying an additional 181 shares in the last quarter. 84.24% of the stock is owned by hedge funds and other institutional investors.

AME has been the topic of several recent analyst reports. Zacks Investment Research cut AMTEK from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Stifel Nicolaus set a $70.00 price objective on AMTEK and gave the company a “buy” rating in a research note on Friday, October 6th. Robert W. Baird restated a “buy” rating and set a $70.00 price objective on shares of AMTEK in a research note on Friday, October 6th. Finally, Royal Bank of Canada restated a “buy” rating and set a $70.00 price objective on shares of AMTEK in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $73.40.

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About AMTEK

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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