Midwest Investment Management buys $3,323,493 stake in AMETEK (AME)

AMETEK (AME) : Midwest Investment Management scooped up 21,317 additional shares in AMETEK during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 69,983 shares of AMETEK which is valued at $3,323,493.AMETEK makes up approximately 2.62% of Midwest Investment Management’s portfolio.

Other Hedge Funds, Including , First Personal Financial Services boosted its stake in AME in the latest quarter, The investment management firm added 110 additional shares and now holds a total of 125 shares of AMETEK which is valued at $5,885.Blair William Coil reduced its stake in AME by selling 73,242 shares or 11.98% in the most recent quarter. The Hedge Fund company now holds 538,272 shares of AME which is valued at $25,562,537. AMETEK makes up approx 0.23% of Blair William Coil’s portfolio.Cibc Asset Management Inc boosted its stake in AME in the latest quarter, The investment management firm added 545 additional shares and now holds a total of 23,891 shares of AMETEK which is valued at $1,119,293. AMETEK makes up approx 0.01% of Cibc Asset Management Inc’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in AME in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 33,723 shares of AMETEK which is valued at $1,579,923. AMETEK makes up approx 0.03% of Oregon Public Employees Retirement Fund’s portfolio.Huntington National Bank reduced its stake in AME by selling 675 shares or 57.45% in the most recent quarter. The Hedge Fund company now holds 500 shares of AME which is valued at $23,605.

AMETEK (AME) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $48.41 and reached the intraday high at $48.51. The bulls started the profit booking and pushed the shares to intraday low of $48.13. The trading session was marked by a volume range of 13,83,393 shares exchanging hands. The 52-week high of the shares is $57.67 and the 52-week low is $42.82. The market cap of the company stands at $11,244 M and there are 23,24,19,110 shares in public circulation.

On the company’s financial health, AMETEK reported $0.59 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.59. The company had revenue of $977.70 million for the quarter, compared to analysts expectations of $985.76 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Investors should note that on Aug 4, 2016, AMETEK announced a cash dividend of $0.0900. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on AMETEK. Shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Outperform” and Lowered the Price Target to $ 53 from a previous price target of $56 .

AMETEK Inc. (AMETEK) is a manufacturer of electronic instruments and electromechanical devices with operations in North America Europe Asia and South America. AMETEK markets and sells its products through two groups: Electronic Instruments (EIG) and Electromechanical (EMG). The Company’s EIG segment designs and manufactures advanced instruments for the process aerospace power and industrial markets. It offers process control instruments for the oil and gas petrochemical pharmaceutical semiconductor and factory automation industries. The Company’s EMG segment offers electrical connectors and electronics packaging used in aerospace and defense medical and industrial applications as well as its advanced technical motor and motion control products which are used in a range of medical devices office and business equipment factory automation robotics and other applications.

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