Westpac Banking Corp boosted its stake in shares of Amtek Inc. (NYSE:AME) by 28.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,950 shares of the company’s stock after buying an additional 3,093 shares during the period. Westpac Banking Corp’s holdings in Amtek were worth $645,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Amtek during the second quarter valued at about $106,000. Mizuho Asset Management Co. Ltd. raised its stake in shares of Amtek by 65.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,314 shares of the company’s stock valued at $153,000 after buying an additional 1,316 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Amtek during the second quarter valued at about $201,000. Stephens Inc. AR raised its stake in shares of Amtek by 11.2% in the second quarter. Stephens Inc. AR now owns 4,851 shares of the company’s stock valued at $224,000 after buying an additional 490 shares in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Amtek during the first quarter valued at about $269,000. Institutional investors and hedge funds own 87.75% of the company’s stock.
Amtek Inc. (NYSE:AME) opened at 47.43 on Tuesday. Amtek Inc. has a one year low of $42.82 and a one year high of $57.00. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 19.84 and a beta of 1.21. The stock’s 50 day moving average price is $48.31 and its 200-day moving average price is $47.98.
Amtek (NYSE:AME) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.59. The business earned $977.70 million during the quarter, compared to the consensus estimate of $986.35 million. Amtek had a return on equity of 17.53% and a net margin of 14.47%. Amtek’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. On average, equities research analysts expect that Amtek Inc. will post $2.30 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. Amtek’s payout ratio is presently 15.13%.
Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada reduced their price target on Amtek from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, August 5th. Oppenheimer Holdings Inc. reduced their price target on Amtek from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 5th. BMO Capital Markets set a $53.00 price target on Amtek and gave the company a “buy” rating in a report on Friday, August 5th. Stifel Nicolaus reduced their target price on Amtek from $56.00 to $50.00 and set a “buy” rating for the company in a report on Friday, August 5th. Finally, Jefferies Group reduced their target price on Amtek from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Amtek currently has a consensus rating of “Buy” and a consensus target price of $53.09.
In related news, insider John Wesley Hardin sold 2,775 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $49.70, for a total transaction of $137,917.50. Following the completion of the transaction, the insider now directly owns 45,371 shares in the company, valued at $2,254,938.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas C. Marecic sold 6,500 shares of the stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $44.89, for a total value of $291,785.00. Following the transaction, the insider now owns 29,526 shares of the company’s stock, valued at $1,325,422.14. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
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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