Victory Capital Management Inc. reduced its position in Amtek Inc. (NYSE:AME) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,410,181 shares of the company’s stock after selling 67,691 shares during the period. Victory Capital Management Inc. owned about 0.61% of Amtek worth $67,378,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in Amtek by 12.1% in the second quarter. FMR LLC now owns 31,049,923 shares of the company’s stock worth $1,435,438,000 after buying an additional 3,342,925 shares during the period. Third Point LLC bought a new position in Amtek during the second quarter worth $124,821,000. Cooke & Bieler LP bought a new position in Amtek during the third quarter worth $50,703,000. JPMorgan Chase & Co. raised its position in Amtek by 15.0% in the second quarter. JPMorgan Chase & Co. now owns 4,483,734 shares of the company’s stock worth $207,283,000 after buying an additional 584,454 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Amtek by 19.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,370,103 shares of the company’s stock worth $155,799,000 after buying an additional 538,119 shares during the period. 88.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Amtek Inc. (NYSE:AME) remained flat at $47.47 during midday trading on Friday. The stock had a trading volume of 500,797 shares. Amtek Inc. has a 1-year low of $42.82 and a 1-year high of $57.00. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 20.64 and a beta of 1.11. The company’s 50 day moving average is $46.17 and its 200 day moving average is $47.10.
Amtek (NYSE:AME) last issued its earnings results on Tuesday, November 1st. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. Amtek had a return on equity of 16.68% and a net margin of 14.01%. The firm had revenue of $945 million for the quarter, compared to analysts’ expectations of $956.33 million. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Amtek Inc. will post $2.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Monday, December 5th. Amtek’s payout ratio is currently 15.72%.
AME has been the topic of several recent analyst reports. Zacks Investment Research raised Amtek from a “sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. Royal Bank Of Canada decreased their price target on Amtek from $59.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 2nd. Stifel Nicolaus cut their price objective on Amtek from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. RBC Capital Markets reiterated an “outperform” rating and issued a $57.00 price objective (down previously from $59.00) on shares of Amtek in a report on Wednesday, November 2nd. Finally, Janney Montgomery Scott began coverage on Amtek in a report on Monday, October 24th. They issued a “buy” rating and a $56.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $53.27.