Dudley & Shanley Inc. Has $23.94 Million Stake in AMETEK, Inc. (NYSE:AME)

Dudley & Shanley Inc. grew its holdings in AMETEK, Inc. (NYSE:AME) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,434 shares of the technology company’s stock after buying an additional 14,105 shares during the period. AMETEK accounts for about 3.7% of Dudley & Shanley Inc.’s portfolio, making the stock its 13th biggest holding. Dudley & Shanley Inc.’s holdings in AMETEK were worth $23,942,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas bought a new position in AMETEK during the 3rd quarter worth $3,724,000. Franklin Resources Inc. lifted its position in shares of AMETEK by 7.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,373,684 shares of the technology company’s stock worth $235,683,000 after buying an additional 96,316 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings in shares of AMETEK by 3.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 33,034 shares of the technology company’s stock valued at $5,672,000 after purchasing an additional 958 shares during the last quarter. Tidal Investments LLC grew its stake in shares of AMETEK by 27.0% during the third quarter. Tidal Investments LLC now owns 11,938 shares of the technology company’s stock worth $2,050,000 after buying an additional 2,540 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of AMETEK during the third quarter worth $2,336,000. 87.43% of the stock is owned by institutional investors.

AMETEK Stock Down 0.7 %

AMETEK stock traded down $1.29 during midday trading on Monday, hitting $182.07. 740,954 shares of the stock were exchanged, compared to its average volume of 1,153,043. The stock has a market capitalization of $42.11 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $184.83 and its 200-day moving average price is $173.71. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week high of $198.33.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping 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 company 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 EPS. AMETEK’s revenue was up 5.3% on a year-over-year basis. On average, research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.28 per share. 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 payout ratio is currently 19.51%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AME. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. Mizuho raised their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird upped their price objective on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AMETEK has an average rating of “Moderate Buy” and an average target price of $202.50.

Insider Transactions at AMETEK

In related news, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares in the company, valued at approximately $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock valued at $5,958,141 over the last three months. Company insiders own 0.61% of the company’s stock.

AMETEK Company 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.