Morgan Dempsey Capital Management LLC Has $204,000 Position in AMTEK, Inc. (AME)
Morgan Dempsey Capital Management LLC cut its stake in shares of AMTEK, Inc. (NYSE:AME) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,364 shares of the technology company’s stock after selling 100 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in AMTEK were worth $204,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Management Co. LLC increased its position in shares of AMTEK by 41.6% in the second quarter. Global X Management Co. LLC now owns 5,233 shares of the technology company’s stock valued at $317,000 after buying an additional 1,538 shares during the period. BP PLC acquired a new stake in AMTEK during the second quarter valued at approximately $1,635,000. Palisade Capital Management LLC NJ acquired a new stake in AMTEK during the second quarter valued at approximately $200,000. Davis R M Inc. boosted its stake in AMTEK by 6.8% in the second quarter. Davis R M Inc. now owns 486,523 shares of the technology company’s stock valued at $29,469,000 after buying an additional 31,100 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in AMTEK by 0.6% in the second quarter. Retirement Systems of Alabama now owns 111,569 shares of the technology company’s stock valued at $6,758,000 after buying an additional 647 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.
AMTEK, Inc. (NYSE AME) opened at 62.74 on Friday. AMTEK, Inc. has a one year low of $43.98 and a one year high of $64.97. The firm has a market capitalization of $14.48 billion, a PE ratio of 27.53 and a beta of 1.34. The company’s 50-day moving average price is $61.79 and its 200 day moving average price is $57.65.
AMTEK (NYSE:AME) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 posted $0.59 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts forecast that AMTEK, Inc. will post $2.52 earnings per share for the current year.
The firm 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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, September 14th. AMTEK’s dividend payout ratio (DPR) is 15.79%.
TRADEMARK VIOLATION NOTICE: “Morgan Dempsey Capital Management LLC Has $204,000 Position in AMTEK, Inc. (AME)” was posted by Daily Political and is the property of of Daily Political. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.dailypolitical.com/2017/08/11/morgan-dempsey-capital-management-llc-has-204000-position-in-amtek-inc-ame.html.
AME has been the subject of several recent analyst reports. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, April 25th. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price target (up from $63.00) on shares of AMTEK in a report on Wednesday, May 3rd. BMO Capital Markets reissued an “outperform” rating and issued a $67.00 price target (up from $65.00) on shares of AMTEK in a report on Wednesday, May 3rd. Morgan Stanley raised their price target on 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 issued a $67.00 price target on shares of AMTEK in a report on Tuesday, June 6th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.09.
In other AMTEK news, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $61.96, for a total transaction of $185,880.00. Following the completion of the transaction, the director now directly owns 123,880 shares of the company’s stock, valued at approximately $7,675,604.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas M. Montgomery sold 1,500 shares of the 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 transaction, the vice president now directly owns 21,747 shares of the company’s stock, valued at $1,402,464.03. The disclosure for this sale can be found here. Insiders sold a total of 55,370 shares of company stock valued at $3,432,699 over the last three months. Corporate insiders own 2.10% of the company’s stock.
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.
Want to see what other hedge funds are holding AME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMTEK, Inc. (NYSE:AME).
Receive News & Ratings for AMTEK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMTEK Inc. and related companies with MarketBeat.com's FREE daily email newsletter.