Trade Report: Today, Amtek Inc. (AME) Position Held by State Treasurer State of Michigan

Today, Amtek Inc. (AME) Position Held by State Treasurer State of Michigan

State Treasurer State of Michigan held its stake in Amtek Inc. (NYSE:AME) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,100 shares of the company’s stock at the end of the third quarter. State Treasurer State of Michigan’s holdings in Amtek were worth $3,875,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AME. FMR LLC boosted its stake 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 last quarter. Vanguard Group Inc. raised its position in Amtek by 1.0% in the second quarter. Vanguard Group Inc. now owns 20,601,618 shares of the company’s stock worth $952,413,000 after buying an additional 203,997 shares during the period. 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. BlackRock Fund Advisors raised its position in Amtek by 0.7% in the second quarter. BlackRock Fund Advisors now owns 3,660,611 shares of the company’s stock worth $169,230,000 after buying an additional 26,310 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. 87.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of Amtek Inc. (NYSE:AME) traded down 2.61% during trading on Monday, reaching $46.23. 3,349,837 shares of the company traded hands. The company has a 50 day moving average price of $46.10 and a 200 day moving average price of $47.11. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 20.10 and a beta of 1.11. Amtek Inc. has a 12-month low of $42.82 and a 12-month high of $57.00.

Amtek (NYSE:AME) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Amtek had a net margin of 14.01% and a return on equity of 16.68%. The business had revenue of $945 million for the quarter, compared to analyst estimates of $956.33 million. During the same period last year, the firm earned $0.65 earnings per share. Amtek’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Amtek Inc. will post $2.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Monday, December 5th. Amtek’s dividend payout ratio is 15.72%.

A number of research firms have commented on AME. Royal Bank Of Canada reduced their price target on shares of Amtek from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, August 5th. Stifel Nicolaus reduced their price target on shares of Amtek from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 2nd. RBC Capital Markets restated an “outperform” rating and issued a $57.00 price target (down from $59.00) on shares of Amtek in a research report on Wednesday, November 2nd. Janney Montgomery Scott began coverage on shares of Amtek in a research report on Monday, October 24th. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Oppenheimer Holdings Inc. reduced their price target on shares of Amtek from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, August 5th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Amtek has a consensus rating of “Buy” and a consensus price target of $53.27.

Amtek Company Profile

AMETEK, Inc (AMETEK) is a manufacturer of electronic instruments and electromechanical devices. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.

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