Montag & Caldwell LLC Reduces Position in AMTEK, Inc. (AME)
Montag & Caldwell LLC lowered its position in shares of AMTEK, Inc. (NYSE:AME) by 60.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,182 shares of the technology company’s stock after selling 10,765 shares during the period. Montag & Caldwell LLC’s holdings in AMTEK were worth $435,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Sandy Spring Bank boosted its stake in AMTEK by 4.1% in the first quarter. Sandy Spring Bank now owns 1,847 shares of the technology company’s stock worth $262,000 after buying an additional 72 shares in the last quarter. Independence Advisors LLC purchased a new stake in AMTEK during the second quarter worth about $299,000. First Personal Financial Services boosted its stake in AMTEK by 23.9% in the first quarter. First Personal Financial Services now owns 2,075 shares of the technology company’s stock worth $112,000 after buying an additional 400 shares in the last quarter. Van ECK Associates Corp boosted its stake in AMTEK by 7.0% in the first quarter. Van ECK Associates Corp now owns 3,008 shares of the technology company’s stock worth $163,000 after buying an additional 196 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of AMTEK by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,229 shares of the technology company’s stock valued at $175,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.
AMTEK, Inc. (NYSE AME) traded down 0.22% during trading on Friday, reaching $62.60. The company’s stock had a trading volume of 96,277 shares. The company’s 50 day moving average price is $61.79 and its 200-day moving average price is $57.65. The stock has a market cap of $14.45 billion, a P/E ratio of 27.47 and a beta of 1.34. AMTEK, Inc. has a 1-year low of $43.98 and a 1-year high of $64.97.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts forecast that AMTEK, Inc. will post $2.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 dividend yield of 0.57%. The ex-dividend date is Thursday, September 14th. AMTEK’s dividend payout ratio (DPR) is 15.79%.
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Several analysts recently commented on the company. Oppenheimer Holdings, Inc. boosted their price target on AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. BMO Capital Markets boosted their price target on AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Monday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of AMTEK in a research note on Thursday, August 3rd. Finally, BidaskClub lowered AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $65.09.
In related news, insider Timothy N. Jones sold 39,955 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $61.95, for a total transaction of $2,475,212.25. Following the sale, the insider now owns 40,025 shares of the company’s stock, valued at approximately $2,479,548.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas M. Montgomery sold 1,500 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the sale, the vice president now directly owns 21,747 shares in the company, valued at approximately $1,402,464.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,370 shares of company stock worth $3,432,699. 2.10% of the stock is currently owned by company 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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