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 business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $66.30, for a total value of $198,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of AMTEK, Inc. (NYSE AME) traded up 1.00% during trading on Wednesday, reaching $66.95. The company had a trading volume of 660,954 shares. The firm has a 50-day moving average of $64.29 and a 200-day moving average of $60.62. AMTEK, Inc. has a 12-month low of $43.98 and a 12-month high of $67.05. The company has a market cap of $15.45 billion, a P/E ratio of 29.38 and a beta of 1.31.
AMTEK (NYSE:AME) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. On average, equities research analysts anticipate that AMTEK, Inc. will post $2.52 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Thursday, September 14th. AMTEK’s dividend payout ratio is 15.79%.
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AME has been the subject of several research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a report on Tuesday, June 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $69.00 target price (up from $66.00) on shares of AMTEK in a report on Thursday, June 8th. BMO Capital Markets reaffirmed a “buy” rating and set a $67.00 target price on shares of AMTEK in a report on Tuesday, June 27th. Cowen and Company reaffirmed an “outperform” rating and set a $66.00 target price (up from $62.00) on shares of AMTEK in a report on Friday, July 7th. Finally, Zacks Investment Research lowered AMTEK from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $65.27.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. increased its holdings in shares of AMTEK by 4.8% during the third quarter. Eqis Capital Management Inc. now owns 22,541 shares of the technology company’s stock worth $1,489,000 after buying an additional 1,023 shares in the last quarter. W. E. Donoghue & Co. LLC acquired a new stake in shares of AMTEK during the second quarter worth approximately $2,167,000. Sentry Investment Management LLC increased its holdings in shares of AMTEK by 1.1% during the second quarter. Sentry Investment Management LLC now owns 15,008 shares of the technology company’s stock worth $909,000 after buying an additional 157 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of AMTEK by 21.1% during the second quarter. Toronto Dominion Bank now owns 90,059 shares of the technology company’s stock worth $5,456,000 after buying an additional 15,686 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of AMTEK during the second quarter worth approximately $1,072,000. 85.62% of the stock is owned by institutional investors.
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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