Frank S. Hermance Sells 335,790 Shares of AMTEK, Inc. (AME) Stock
AMTEK, Inc. (NYSE:AME) insider Frank S. Hermance sold 335,790 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $53.66, for a total value of $18,018,491.40. Following the completion of the sale, the insider now owns 386,429 shares of the company’s stock, valued at $20,735,780.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
AMTEK, Inc. (NYSE:AME) opened at 54.37 on Friday. AMTEK, Inc. has a 52-week low of $43.28 and a 52-week high of $54.43. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 24.83 and a beta of 1.11. The stock has a 50 day moving average price of $51.21 and a 200 day moving average price of $48.50.
AMTEK (NYSE:AME) last posted its earnings results on Tuesday, February 7th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.00. The company earned $973 million during the quarter, compared to analysts’ expectations of $969.84 million. AMTEK had a return on equity of 16.19% and a net margin of 13.34%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. On average, equities analysts expect that AMTEK, Inc. will post $2.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $0.36 annualized dividend and a yield of 0.66%. AMTEK’s dividend payout ratio (DPR) is 16.44%.
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Several equities research analysts have weighed in on AME shares. RBC Capital Markets reiterated an “outperform” rating and issued a $57.00 target price (down from $59.00) on shares of AMTEK in a report on Wednesday, November 2nd. Royal Bank Of Canada upped their target price on AMTEK from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Robert W. Baird upgraded AMTEK from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $47.00 to $57.00 in a report on Thursday, December 22nd. Janney Montgomery Scott started coverage on AMTEK in a report on Monday, October 24th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Zacks Investment Research upgraded AMTEK from a “sell” rating to a “hold” rating in a report on Wednesday, November 2nd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $55.36.
A number of large investors have recently bought and sold shares of AME. Thrivent Financial for Lutherans boosted its stake in AMTEK by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,097 shares of the company’s stock valued at $393,000 after buying an additional 430 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in AMTEK by 54.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 154,338 shares of the company’s stock valued at $7,501,000 after buying an additional 54,438 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in AMTEK during the fourth quarter valued at about $2,405,000. Boothbay Fund Management LLC acquired a new stake in AMTEK during the fourth quarter valued at about $376,000. Finally, Cigna Investments Inc. New acquired a new stake in AMTEK during the fourth quarter valued at about $415,000. 89.39% of the stock is owned by institutional investors.
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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