AMETEK, Inc. (NYSE:AME) is Maren Capital LLC’s 2nd Largest Position

Maren Capital LLC lifted its stake in AMETEK, Inc. (NYSE:AME) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 686,632 shares of the technology company’s stock after buying an additional 48,170 shares during the period. AMETEK makes up 9.5% of Maren Capital LLC’s portfolio, making the stock its 2nd biggest position. Maren Capital LLC owned 0.30% of AMETEK worth $123,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 187 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in AMETEK by 42.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares during the period. OFI Invest Asset Management bought a new position in AMETEK in the fourth quarter worth about $43,000. Finally, Anchor Investment Management LLC grew its holdings in shares of AMETEK by 366.1% during the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Stock Performance

Shares of AMETEK stock opened at $152.45 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 12 month low of $148.84 and a 12 month high of $198.33. The business has a fifty day simple moving average of $180.56 and a 200-day simple moving average of $180.95. The stock has a market cap of $35.18 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.68 EPS. On average, sell-side analysts anticipate that AMETEK, Inc. will post 7.15 EPS for the current fiscal year.

AMETEK announced that its Board of Directors has authorized a share repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio is 20.91%.

Insider Activity at AMETEK

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

Analyst Upgrades and Downgrades

AME has been the subject of a number of recent research reports. Robert W. Baird lowered their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday. Truist Financial lifted their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $204.67.

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.