Amtek Inc. (AME) Shares Sold by Brown Advisory Inc.
Brown Advisory Inc. lowered its stake in shares of Amtek Inc. (NYSE:AME) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 48,019 shares of the company’s stock after selling 674 shares during the period. Brown Advisory Inc.’s holdings in Amtek were worth $2,220,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Amtek by 40.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,121 shares of the company’s stock valued at $106,000 after buying an additional 612 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Amtek during the second quarter valued at about $106,000. Stanley Laman Group Ltd. acquired a new stake in shares of Amtek during the second quarter valued at about $201,000. Stephens Inc. AR boosted its stake in shares of Amtek by 11.2% in the second quarter. Stephens Inc. AR now owns 4,851 shares of the company’s stock valued at $224,000 after buying an additional 490 shares in the last quarter. Finally, Conning Inc. boosted its stake in shares of Amtek by 1.8% in the second quarter. Conning Inc. now owns 5,603 shares of the company’s stock valued at $259,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.
Shares of Amtek Inc. (NYSE:AME) traded down 0.50% during trading on Friday, reaching $47.87. 114,262 shares of the company’s stock were exchanged. The company has a 50 day moving average of $48.21 and a 200 day moving average of $48.03. The stock has a market cap of $11.13 billion, a P/E ratio of 20.02 and a beta of 1.29. Amtek Inc. has a 12-month low of $42.82 and a 12-month high of $57.00.
Amtek (NYSE:AME) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. The firm had revenue of $977.70 million for the quarter, compared to the consensus estimate of $986.35 million. Amtek had a net margin of 14.47% and a return on equity of 17.53%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Amtek Inc. will post $2.30 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, September 14th. Amtek’s dividend payout ratio is currently 15.13%.
Several analysts have recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Amtek from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. BMO Capital Markets set a $53.00 target price on shares of Amtek and gave the company a “buy” rating 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. Oppenheimer Holdings Inc. decreased their target price on shares of Amtek from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, August 5th. Finally, Jefferies Group decreased their target price on shares of Amtek from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Amtek currently has a consensus rating of “Buy” and a consensus target price of $53.09.
In other Amtek news, insider Thomas C. Marecic sold 6,500 shares of Amtek stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $44.89, for a total transaction of $291,785.00. Following the transaction, the insider now directly owns 29,526 shares of the company’s stock, valued at $1,325,422.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Wesley Hardin sold 24,500 shares of Amtek stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $49.59, for a total transaction of $1,214,955.00. Following the transaction, the insider now directly owns 81,096 shares in the company, valued at $4,021,550.64. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
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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