Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $2.28 Million Holdings in AMTEK, Inc. (AME)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of AMTEK, Inc. (NYSE:AME) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,575 shares of the technology company’s stock after acquiring an additional 1,574 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in AMTEK were worth $2,283,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AME. Commonwealth Bank of Australia increased its position in AMTEK by 17.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after purchasing an additional 263 shares during the period. BB&T Investment Services Inc. acquired a new position in AMTEK during the 2nd quarter worth approximately $107,000. Edmond DE Rothschild Holding S.A. acquired a new position in AMTEK during the 2nd quarter worth approximately $151,000. Acrospire Investment Management LLC increased its position in AMTEK by 104.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,300 shares during the period. Finally, QS Investors LLC grew its holdings in shares of AMTEK by 0.9% in the 2nd quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after acquiring an additional 25 shares during the period. Institutional investors own 85.67% of the company’s stock.
AMTEK, Inc. (NYSE AME) opened at $68.23 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.59 and a quick ratio of 1.16. The firm has a market capitalization of $15,718.28, a price-to-earnings ratio of 27.31, a P/E/G ratio of 2.31 and a beta of 1.33. AMTEK, Inc. has a 52-week low of $45.78 and a 52-week high of $70.26.
AMTEK (NYSE:AME) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.04. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company posted $0.56 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. analysts predict that AMTEK, Inc. will post 2.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.53%. AMTEK’s dividend payout ratio (DPR) is presently 15.13%.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $63.24, for a total transaction of $189,720.00. Following the completion of the sale, the director now directly owns 117,880 shares in the company, valued at $7,454,731.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas C. Marecic sold 12,315 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $66.36, for a total value of $817,223.40. Following the sale, the insider now owns 38,367 shares of the company’s stock, valued at $2,546,034.12. The disclosure for this sale can be found here. Insiders sold 169,155 shares of company stock worth $11,218,603 over the last three months. 2.10% of the stock is currently owned by corporate insiders.
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A number of research firms recently weighed in on AME. Robert W. Baird upped their price target on AMTEK from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Morgan Stanley upped their price target on AMTEK from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, November 3rd. BMO Capital Markets upped their price target on AMTEK from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Oppenheimer Holdings, Inc. upped their price target on AMTEK to $75.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research cut AMTEK from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $71.60.
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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