Riverhead Capital Management LLC Has $670,000 Holdings in AMETEK, Inc. (AME)
Riverhead Capital Management LLC lifted its holdings in AMETEK, Inc. (NYSE:AME) by 9.9% in the second quarter, Holdings Channel reports. The institutional investor owned 9,293 shares of the technology company’s stock after purchasing an additional 836 shares during the quarter. Riverhead Capital Management LLC’s holdings in AMETEK were worth $670,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in AME. Commerzbank Aktiengesellschaft FI raised its holdings in shares of AMETEK by 33.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 9,091 shares of the technology company’s stock valued at $691,000 after buying an additional 2,290 shares during the last quarter. Mackay Shields LLC bought a new position in shares of AMETEK in the first quarter valued at about $2,956,000. Stephens Inc. AR raised its holdings in shares of AMETEK by 14.4% in the first quarter. Stephens Inc. AR now owns 7,117 shares of the technology company’s stock valued at $541,000 after buying an additional 895 shares during the last quarter. Trexquant Investment LP raised its holdings in shares of AMETEK by 34.1% in the first quarter. Trexquant Investment LP now owns 8,731 shares of the technology company’s stock valued at $663,000 after buying an additional 2,222 shares during the last quarter. Finally, Wetherby Asset Management Inc. bought a new position in shares of AMETEK in the first quarter valued at about $210,000. 85.24% of the stock is owned by institutional investors and hedge funds.
AMETEK stock opened at $78.09 on Friday. The stock has a market cap of $18.16 billion, a PE ratio of 26.36, a P/E/G ratio of 2.23 and a beta of 1.21. AMETEK, Inc. has a 1 year low of $63.28 and a 1 year high of $79.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.71 and a quick ratio of 1.19.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.56 annualized dividend and a dividend yield of 0.72%. AMETEK’s payout ratio is currently 21.46%.
In other news, Director Elizebeth R. Varet sold 1,500 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $78.10, for a total transaction of $117,150.00. Following the completion of the transaction, the director now directly owns 4,148 shares in the company, valued at approximately $323,958.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizebeth R. Varet sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $76.70, for a total value of $153,400.00. Following the transaction, the director now owns 113,810 shares of the company’s stock, valued at $8,729,227. The disclosure for this sale can be found here. Insiders have sold a total of 17,500 shares of company stock valued at $1,334,290 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.
A number of research analysts recently issued reports on the company. Cowen reaffirmed a “buy” rating and issued a $85.00 price target on shares of AMETEK in a report on Sunday, August 12th. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Oppenheimer boosted their price objective on AMETEK from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. Bank of America boosted their price objective on AMETEK from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, BMO Capital Markets boosted their price objective on AMETEK from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $86.08.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
Further Reading: Closed-End Mutual Funds (CEFs)
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