Dudley & Shanley Inc. Boosts Stake in AMETEK, Inc. (NYSE:AME)

Dudley & Shanley Inc. grew its holdings in AMETEK, Inc. (NYSE:AME) by 11.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 139,434 shares of the technology company’s stock after acquiring an additional 14,105 shares during the period. AMETEK comprises approximately 3.7% of Dudley & Shanley Inc.’s holdings, making the stock its 13th biggest holding. Dudley & Shanley Inc. owned about 0.06% of AMETEK worth $23,942,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AME. Raymond James Trust N.A. boosted its holdings in shares of AMETEK by 2.2% in the 2nd quarter. Raymond James Trust N.A. now owns 9,468 shares of the technology company’s stock valued at $1,578,000 after buying an additional 204 shares during the period. First Command Advisory Services Inc. bought a new stake in shares of AMETEK during the second quarter valued at approximately $50,000. Signature Estate & Investment Advisors LLC bought a new position in shares of AMETEK in the second quarter worth $336,000. Checchi Capital Advisers LLC raised its stake in shares of AMETEK by 2.9% during the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after purchasing an additional 63 shares in the last quarter. Finally, Financial Advocates Investment Management raised its position in shares of AMETEK by 44.3% during the 2nd quarter. Financial Advocates Investment Management now owns 2,061 shares of the technology company’s stock worth $344,000 after buying an additional 633 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,660 shares of company stock valued at $5,958,141. 0.61% of the stock is currently owned by corporate insiders.

AMETEK Stock Performance

NYSE:AME traded down $1.29 during trading hours on Monday, hitting $182.07. 740,954 shares of the company traded hands, compared to its average volume of 1,153,043. The firm has a 50-day moving average of $184.83 and a 200 day moving average of $173.71. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $42.11 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 3.08 and a beta of 1.15. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Mizuho lifted their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Truist Financial upped their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.50.

About AMETEK

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.