Voloridge Investment Management LLC Has $166.60 Million Holdings in AMETEK, Inc. (NYSE:AME)

Voloridge Investment Management LLC grew its position in AMETEK, Inc. (NYSE:AME) by 36.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 924,193 shares of the technology company’s stock after purchasing an additional 246,415 shares during the period. AMETEK comprises about 0.6% of Voloridge Investment Management LLC’s holdings, making the stock its 21st largest position. Voloridge Investment Management LLC owned approximately 0.40% of AMETEK worth $166,595,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. National Bank of Canada FI increased its holdings in shares of AMETEK by 17.4% during the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company’s stock valued at $25,616,000 after acquiring an additional 21,009 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of AMETEK by 16.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,898 shares of the technology company’s stock valued at $16,025,000 after acquiring an additional 12,584 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in shares of AMETEK by 74.1% during the 4th quarter. Fox Run Management L.L.C. now owns 8,418 shares of the technology company’s stock valued at $1,517,000 after acquiring an additional 3,584 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AMETEK by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,331,567 shares of the technology company’s stock valued at $240,028,000 after acquiring an additional 39,918 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of AMETEK by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 199,631 shares of the technology company’s stock valued at $35,986,000 after acquiring an additional 2,868 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Price Performance

Shares of AME stock opened at $181.77 on Tuesday. The stock has a 50 day moving average of $168.41 and a two-hundred day moving average of $179.92. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The company has a market capitalization of $41.97 billion, a P/E ratio of 30.65, a P/E/G ratio of 2.73 and a beta of 1.12.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. As a group, equities analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its Board of Directors has initiated a stock buyback plan on Friday, February 7th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.68%. AMETEK’s dividend payout ratio (DPR) is presently 20.29%.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now owns 22,029 shares in the company, valued at $4,172,512.89. This trade represents a 5.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. The trade was a 6.30% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AME shares. Morgan Stanley started coverage on AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price objective on the stock. Robert W. Baird lowered their price objective on AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada raised their target price on AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Mizuho set a $212.00 target price on AMETEK in a report on Friday. Finally, Truist Financial raised their target price on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $198.10.

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.