Harvey Investment Co. LLC Lowers Position in Amtek Inc. (AME)
Harvey Investment Co. LLC cut its stake in Amtek Inc. (NYSE:AME) by 6.7% during the second quarter, Holdings Channel reports. The fund owned 24,914 shares of the company’s stock after selling 1,780 shares during the period. Harvey Investment Co. LLC’s holdings in Amtek were worth $1,152,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. ING Groep NV purchased a new stake in Amtek during the first quarter valued at $269,000. Magnetar Financial LLC purchased a new stake in Amtek during the first quarter valued at $271,000. Conning Inc. raised its stake in 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 during the last quarter. Shufro Rose & Co. LLC raised its stake in Amtek by 22.3% in the first quarter. Shufro Rose & Co. LLC now owns 6,574 shares of the company’s stock valued at $329,000 after buying an additional 1,199 shares during the last quarter. Finally, Capital One National Association raised its stake in Amtek by 7.7% in the second quarter. Capital One National Association now owns 7,858 shares of the company’s stock valued at $363,000 after buying an additional 563 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Amtek Inc. (NYSE:AME) traded up 2.16% during mid-day trading on Wednesday, hitting $48.15. 1,564,622 shares of the company were exchanged. The firm has a 50 day moving average of $48.28 and a 200 day moving average of $47.96. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 20.14 and a beta of 1.21. 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 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.59. The business earned $977.70 million during the quarter, compared to the consensus estimate of $986.35 million. Amtek had a return on equity of 17.53% and a net margin of 14.47%. Amtek’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Equities research analysts forecast that Amtek Inc. will post $2.30 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Wednesday, September 14th. Amtek’s dividend payout ratio is presently 15.13%.
A number of brokerages have commented on AME. Royal Bank Of Canada decreased their price objective on shares of Amtek from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. Oppenheimer Holdings Inc. decreased their price objective on shares of Amtek from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. BMO Capital Markets set a $53.00 price objective on shares of Amtek and gave the stock a “buy” rating in a report on Friday, August 5th. Stifel Nicolaus decreased their price objective on shares of Amtek from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Finally, Jefferies Group decreased their price objective on shares of Amtek from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Amtek has a consensus rating of “Buy” and a consensus price target of $53.09.
In other Amtek news, insider John Wesley Hardin sold 2,775 shares of Amtek stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $49.70, for a total value of $137,917.50. Following the transaction, the insider now owns 45,371 shares in the company, valued at $2,254,938.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by company 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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