CCM Investment Advisers LLC Invests $6.37 Million in AMETEK, Inc. $AME

CCM Investment Advisers LLC bought a new stake in AMETEK, Inc. (NYSE:AME) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 29,710 shares of the technology company’s stock, valued at approximately $6,369,000.

A number of other hedge funds have also recently added to or reduced their stakes in AME. Y.D. More Investments Ltd bought a new position in AMETEK during the fourth quarter worth $1,653,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of AMETEK by 6.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 487,238 shares of the technology company’s stock valued at $101,901,000 after purchasing an additional 28,621 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of AMETEK during the 4th quarter worth about $1,027,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of AMETEK by 10.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,937 shares of the technology company’s stock worth $197,085,000 after buying an additional 94,544 shares during the period. Finally, Factory Mutual Insurance Co. grew its stake in AMETEK by 6.6% in the 4th quarter. Factory Mutual Insurance Co. now owns 215,100 shares of the technology company’s stock valued at $44,162,000 after buying an additional 13,300 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. DA Davidson restated a “buy” rating and set a $265.00 price objective on shares of AMETEK in a report on Monday, May 4th. Weiss Ratings downgraded AMETEK from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Citigroup initiated coverage on AMETEK in a report on Monday, June 15th. They issued a “neutral” rating and a $257.00 price objective on the stock. Wall Street Zen downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Royal Bank Of Canada boosted their target price on shares of AMETEK from $259.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.29.

AMETEK Stock Up 2.0%

NYSE AME opened at $239.93 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $54.99 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.30 and a beta of 0.99. The company has a 50 day moving average of $233.22 and a 200-day moving average of $228.42. AMETEK, Inc. has a 1-year low of $179.24 and a 1-year high of $244.71.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. AMETEK had a return on equity of 16.63% and a net margin of 20.11%.The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business posted $1.75 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts expect that AMETEK, Inc. will post 8.14 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 15th. AMETEK’s dividend payout ratio is presently 20.54%.

About AMETEK

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.