Amtek Inc. (NYSE:AME) Given Average Rating of “Buy” by Brokerages
Shares of Amtek Inc. (NYSE:AME) have been given an average rating of “Buy” by the thirteen analysts that are currently covering the company. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $53.09.
Several equities analysts have recently issued reports on the company. 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 report on Friday, August 5th. RBC Capital Markets restated an “outperform” rating and set a $53.00 target price (down from $56.00) on shares of Amtek in a research report on Friday, August 5th. Royal Bank Of Canada decreased their target price on Amtek from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. Oppenheimer Holdings Inc. cut their price objective on Amtek from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. Finally, Jefferies Group cut their price objective on Amtek from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th.
In other news, insider Thomas C. Marecic sold 6,500 shares of the company’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 sale, the insider now owns 29,526 shares in the company, valued at approximately $1,325,422.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Wesley Hardin sold 2,775 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $49.70, for a total value of $137,917.50. Following the sale, the insider now owns 45,371 shares in the company, valued at approximately $2,254,938.70. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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Several large investors have recently made changes to their positions in AME. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Amtek during the second quarter worth about $436,000. Kentucky Retirement Systems bought a new stake in shares of Amtek during the second quarter worth about $918,000. Mason Street Advisors LLC bought a new stake in shares of Amtek during the second quarter worth about $1,453,000. Calvert Investment Management Inc. boosted its stake in shares of Amtek by 4.7% in the second quarter. Calvert Investment Management Inc. now owns 18,878 shares of the company’s stock worth $873,000 after buying an additional 841 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Amtek by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 664,889 shares of the company’s stock worth $30,738,000 after buying an additional 14,302 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.
Shares of Amtek (NYSE:AME) traded down 0.85% during trading on Tuesday, hitting $46.69. 1,173,249 shares of the stock traded hands. The firm has a market cap of $10.85 billion, a PE ratio of 19.53 and a beta of 1.29. The company’s 50 day moving average is $48.16 and its 200 day moving average is $48.04. Amtek has a 52-week low of $42.82 and a 52-week high of $57.00.
Amtek (NYSE:AME) last posted its earnings results on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. The company earned $977.70 million during the quarter, compared to analyst estimates of $986.35 million. Amtek had a return on equity of 17.53% and a net margin of 14.47%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. On average, equities research analysts predict that Amtek will post $2.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Wednesday, September 14th. Amtek’s dividend payout ratio is currently 15.13%.
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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