AMTEK, Inc. (AME) Short Interest Update

AMTEK, Inc. (NYSE:AME) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 3,285,049 shares, an increase of 58.7% from the November 15th total of 2,069,642 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 1,479,031 shares, the days-to-cover ratio is presently 2.2 days.

AME has been the subject of several recent analyst reports. Royal Bank of Canada restated a “buy” rating and set a $70.00 target price on shares of AMTEK in a research report on Friday, October 13th. Zacks Investment Research upgraded AMTEK from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Monday, November 13th. Stifel Nicolaus restated a “buy” rating on shares of AMTEK in a research report on Monday, December 11th. Jefferies Group boosted their target price on AMTEK from $66.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Oppenheimer boosted their target price on AMTEK to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.00.

Shares of AMTEK (AME) traded up $0.63 during mid-day trading on Friday, reaching $75.20. The company’s stock had a trading volume of 738,661 shares, compared to its average volume of 1,110,000. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.59. AMTEK has a 52-week low of $49.54 and a 52-week high of $75.42. The company has a market capitalization of $17,380.00, a price-to-earnings ratio of 31.60, a P/E/G ratio of 2.19 and a beta of 1.36.

AMTEK (NYSE:AME) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. equities analysts expect that AMTEK will post 2.58 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, December 5th. AMTEK’s dividend payout ratio (DPR) is currently 15.13%.

In other news, VP Thomas M. Montgomery sold 1,800 shares of AMTEK stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.35, for a total value of $126,630.00. Following the completion of the transaction, the vice president now directly owns 19,947 shares in the company, valued at $1,403,271.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elizebeth R. Varet sold 3,050 shares of AMTEK stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $71.83, for a total value of $219,081.50. Following the completion of the transaction, the director now owns 117,930 shares of the company’s stock, valued at $8,470,911.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,815 shares of company stock valued at $2,209,220. 2.10% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Commonwealth Bank of Australia lifted its stake in AMTEK by 17.7% during the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after purchasing an additional 263 shares during the last quarter. BB&T Investment Services Inc. bought a new stake in AMTEK during the second quarter worth about $107,000. Acropolis Investment Management LLC bought a new stake in AMTEK during the fourth quarter worth about $108,000. Zions Bancorporation bought a new stake in AMTEK during the third quarter worth about $150,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of AMTEK in the 2nd quarter valued at about $151,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

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About AMTEK

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

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