Dai Ichi Life Insurance Company Ltd Acquires New Holdings in AMTEK, Inc. (AME)
Dai Ichi Life Insurance Company Ltd acquired a new stake in AMTEK, Inc. (NYSE:AME) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,823 shares of the technology company’s stock, valued at approximately $319,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IHT Wealth Management LLC bought a new stake in AMTEK in the second quarter valued at about $194,000. Commonwealth Bank of Australia increased its holdings in AMTEK by 17.7% in the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after purchasing an additional 263 shares during the last quarter. BB&T Investment Services Inc. bought a new stake in AMTEK in the second quarter valued at about $107,000. Edmond DE Rothschild Holding S.A. bought a new stake in AMTEK in the second quarter valued at about $151,000. Finally, Acrospire Investment Management LLC increased its holdings in AMTEK by 104.0% in the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock valued at $154,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 84.23% of the company’s stock.
AMTEK, Inc. (AME) opened at $71.68 on Thursday. AMTEK, Inc. has a 52 week low of $45.78 and a 52 week high of $72.09. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $16,640.44, a PE ratio of 28.92, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33.
AMTEK (NYSE:AME) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. equities research analysts predict that AMTEK, Inc. will post 2.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.36 dividend on an annualized basis and a yield of 0.50%. AMTEK’s payout ratio is 15.13%.
A number of equities research analysts recently commented on the company. Oppenheimer upped their price objective on AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. BMO Capital Markets upped their price objective on AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. BidaskClub downgraded AMTEK from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research downgraded AMTEK from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Stifel Nicolaus set a $70.00 price objective on AMTEK and gave the company a “buy” rating in a report on Friday, October 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. AMTEK has an average rating of “Buy” and a consensus target price of $71.80.
In other AMTEK news, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total value of $198,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas M. Montgomery sold 1,800 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $70.35, for a total value of $126,630.00. Following the transaction, the vice president now directly owns 19,947 shares of the company’s stock, valued at $1,403,271.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,955 shares of company stock valued at $11,155,513. 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.
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