UBS Asset Management Americas Inc. decreased its position in Amtek Inc. (NYSE:AME) by 0.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,919,060 shares of the company’s stock after selling 5,718 shares during the period. UBS Asset Management Americas Inc.’s holdings in Amtek were worth $91,692,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Amtek by 12.1% in the second quarter. FMR LLC now owns 31,049,923 shares of the company’s stock valued at $1,435,438,000 after buying an additional 3,342,925 shares in the last quarter. Third Point LLC acquired a new stake in shares of Amtek during the second quarter valued at $124,821,000. Cooke & Bieler LP acquired a new stake in shares of Amtek during the third quarter valued at $50,703,000. United States Steel & Carnegie Pension Fund acquired a new stake in shares of Amtek during the third quarter valued at $39,029,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Amtek by 15.0% in the second quarter. JPMorgan Chase & Co. now owns 4,483,734 shares of the company’s stock valued at $207,283,000 after buying an additional 584,454 shares in the last quarter. 87.23% of the stock is currently owned by hedge funds and other institutional investors.
Amtek Inc. (NYSE:AME) opened at 46.23 on Tuesday. The stock’s 50 day moving average is $46.05 and its 200 day moving average is $47.11. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 20.10 and a beta of 1.11. Amtek Inc. has a one year low of $42.82 and a one year high of $56.93.
Amtek (NYSE:AME) last issued its 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. The company had revenue of $945 million for the quarter, compared to analysts’ expectations of $956.33 million. Amtek had a net margin of 14.01% and a return on equity of 16.68%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. On average, analysts predict that Amtek Inc. will post $2.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be given a $0.09 dividend. 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 payout ratio is presently 15.72%.
AME has been the topic of several analyst reports. Janney Montgomery Scott initiated coverage on shares of Amtek in a research note on Monday, October 24th. They issued a “buy” rating and a $56.00 price objective on the stock. Royal Bank Of Canada reduced their price objective on shares of Amtek from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, August 5th. Zacks Investment Research raised shares of Amtek from a “sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. Jefferies Group reduced their price objective on shares of Amtek from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $57.00 price target (down previously from $59.00) on shares of Amtek in a research report on Wednesday, November 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price 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.