Acadian Asset Management LLC Increases Stake in AMETEK, Inc. (NYSE:AME)

Acadian Asset Management LLC raised its stake in AMETEK, Inc. (NYSE:AME) by 11.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 430,709 shares of the technology company’s stock after purchasing an additional 42,577 shares during the quarter. Acadian Asset Management LLC’s holdings in AMETEK were worth $71,786,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. bought a new stake in AMETEK during the 1st quarter valued at $37,000. Family Firm Inc. purchased a new position in shares of AMETEK in the second quarter valued at about $39,000. Headlands Technologies LLC bought a new position in shares of AMETEK during the first quarter valued at about $43,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK during the second quarter worth about $42,000. Finally, Mendota Financial Group LLC bought a new stake in shares of AMETEK in the first quarter worth about $50,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of NYSE:AME opened at $163.64 on Friday. The business has a fifty day moving average price of $166.27 and a 200-day moving average price of $172.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The company has a market capitalization of $37.88 billion, a PE ratio of 28.76, a PEG ratio of 2.81 and a beta of 1.17. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the company earned $1.57 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that AMETEK, Inc. will post 6.77 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

AME has been the subject of a number of recent analyst reports. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Wednesday, May 22nd. TD Cowen decreased their price objective on AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a report on Monday, August 5th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Robert W. Baird decreased their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and a consensus target price of $186.29.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the sale, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.61% of the company’s stock.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.