Kornitzer Capital Management Inc. KS Has $5,470,000 Stake in AMTEK, Inc. (AME)
Kornitzer Capital Management Inc. KS continued to hold its position in shares of AMTEK, Inc. (NYSE:AME) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 90,315 shares of the technology company’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in AMTEK were worth $5,470,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in AME. BlackRock Inc. increased its position in shares of AMTEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock valued at $747,572,000 after buying an additional 13,392,716 shares during the period. Boston Partners increased its position in shares of AMTEK by 534.8% in the first quarter. Boston Partners now owns 3,439,416 shares of the technology company’s stock valued at $186,004,000 after buying an additional 2,897,568 shares during the period. American Century Companies Inc. increased its position in shares of AMTEK by 115.2% in the first quarter. American Century Companies Inc. now owns 2,777,068 shares of the technology company’s stock valued at $150,184,000 after buying an additional 1,486,889 shares during the period. Wellington Management Group LLP increased its position in shares of AMTEK by 9.0% in the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock valued at $569,372,000 after buying an additional 868,895 shares during the period. Finally, FMR LLC increased its position in shares of AMTEK by 3.4% in the first quarter. FMR LLC now owns 21,688,705 shares of the technology company’s stock valued at $1,172,925,000 after buying an additional 717,489 shares during the period. 89.82% of the stock is owned by institutional investors.
Shares of AMTEK, Inc. (NYSE AME) opened at 64.52 on Friday. AMTEK, Inc. has a 52 week low of $43.30 and a 52 week high of $64.73. The company’s 50 day moving average is $61.39 and its 200-day moving average is $57.13. The company has a market capitalization of $14.85 billion, a PE ratio of 28.31 and a beta of 1.34.
AMTEK (NYSE:AME) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $0.59 earnings per share. AMTEK’s revenue was up 8.9% compared to the same quarter last year. On average, analysts expect that AMTEK, Inc. will post $2.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, September 14th. AMTEK’s dividend payout ratio (DPR) is 15.79%.
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Several equities analysts have recently issued reports on AME shares. Zacks Investment Research downgraded shares of AMTEK from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. BMO Capital Markets reissued an “outperform” rating and set a $67.00 price target (up previously from $65.00) on shares of AMTEK in a report on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and set a $66.00 price target (up previously from $63.00) on shares of AMTEK in a report on Wednesday, May 3rd. Morgan Stanley boosted their price target on shares of AMTEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $67.00 price target on shares of AMTEK in a report on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $64.82.
In other AMTEK news, Director James R. Malone sold 1,190 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $59.65, for a total transaction of $70,983.50. Following the completion of the transaction, the director now directly owns 4,300 shares of the company’s stock, valued at $256,495. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Malone sold 5,278 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $59.79, for a total value of $315,571.62. Following the transaction, the director now directly owns 2,844 shares of the company’s stock, valued at $170,042.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,738 shares of company stock valued at $3,554,793. 2.10% of the stock is owned by corporate insiders.
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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