Ceredex Value Advisors LLC Buys Shares of 237,672 AMETEK, Inc. (NYSE:AME)

by · The Cerbat Gem

Ceredex Value Advisors LLC bought a new position in shares of AMETEK, Inc. (NYSE:AME – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 237,672 shares of the technology company’s stock, valued at approximately $40,811,000. Ceredex Value Advisors LLC owned 0.10% of AMETEK as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Czech National Bank boosted its stake in AMETEK by 8.6% in the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after acquiring an additional 3,499 shares in the last quarter. Duality Advisers LP acquired a new position in shares of AMETEK during the first quarter valued at about $1,676,000. CWM LLC boosted its stake in AMETEK by 53.9% in the 2nd quarter. CWM LLC now owns 10,594 shares of the technology company’s stock worth $1,766,000 after purchasing an additional 3,711 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of AMETEK by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 258,677 shares of the technology company’s stock worth $47,312,000 after buying an additional 8,189 shares during the period. Finally, Swedbank AB acquired a new position in shares of AMETEK in the 1st quarter valued at $3,833,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AME has been the topic of a number of recent research reports. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Truist Financial increased their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday. Mizuho boosted their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Robert W. Baird reduced their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Read Our Latest Report on AME

AMETEK Stock Down 2.7 %

AME stock opened at $178.43 on Friday. AMETEK, Inc. has a 52 week low of $141.26 and a 52 week high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $169.17 and a 200-day simple moving average of $168.99. The stock has a market capitalization of $41.31 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME – Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 earnings per share. Equities analysts forecast that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Monday, September 16th. AMETEK’s payout ratio is 19.51%.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

About AMETEK

(Free Report)

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.

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