Insider Selling: AMTEK, Inc. (AME) Director Sells 3,000 Shares of Stock
AMTEK, Inc. (NYSE:AME) Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were 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 directly owns 117,880 shares of the company’s stock, valued at approximately $7,454,731.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of AMTEK, Inc. (NYSE:AME) traded down 0.02% during trading on Tuesday, hitting $63.11. 536,945 shares of the stock traded hands. The company’s 50 day moving average is $61.92 and its 200 day moving average is $57.90. The firm has a market cap of $14.57 billion, a PE ratio of 27.69 and a beta of 1.34. AMTEK, Inc. has a 52-week low of $43.98 and a 52-week high of $64.97.
AMTEK (NYSE:AME) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. AMTEK’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that AMTEK, Inc. will post $2.53 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.57%. AMTEK’s payout ratio is 15.79%.
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Large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its stake in AMTEK by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,229 shares of the technology company’s stock worth $175,000 after buying an additional 19 shares during the last quarter. 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 worth $172,000 after buying an additional 25 shares during the last quarter. OppenheimerFunds Inc. increased its stake in AMTEK by 0.3% in the first quarter. OppenheimerFunds Inc. now owns 8,735 shares of the technology company’s stock worth $472,000 after buying an additional 30 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in AMTEK by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 4,798 shares of the technology company’s stock worth $291,000 after buying an additional 32 shares during the last quarter. Finally, First Manhattan Co. increased its stake in AMTEK by 0.5% in the first quarter. First Manhattan Co. now owns 6,946 shares of the technology company’s stock worth $331,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.
Several analysts have recently weighed in on AME shares. Zacks Investment Research cut shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Stifel Nicolaus reissued a “buy” rating and issued a $69.00 price target (up previously from $66.00) on shares of AMTEK in a research note on Thursday, June 8th. BMO Capital Markets reissued an “outperform” rating and issued a $67.00 price target (up previously from $65.00) on shares of AMTEK in a research note on Wednesday, May 3rd. Cowen and Company reissued an “outperform” rating and issued a $66.00 price target (up previously from $62.00) on shares of AMTEK in a research note on Friday, July 7th. Finally, Morgan Stanley increased their price target on shares of AMTEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, May 8th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. AMTEK has an average rating of “Buy” and a consensus price target of $65.09.
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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