Watch List Stock News: AMETEK (NYSE:AME)

AMETEK (NYSE:AME) noted trading 0.53% off 52-week high price. On the other end, the stock has been noted 50.50% away from the low price over the last 52-weeks. The stock changed 0.57% to recent value of $101.63. The stock transacted 1245813 shares during most recent day however it has an average volume of 1.00M shares. The company has 228.28M of outstanding shares and 227.56M shares were floated in the market.

On Jan. 7, 2020, AMETEK (NYSE:AME) revealed that it has signed a definitive agreement for the sale of its Reading Alloys business to Kymera International, a leading specialty materials company that is owned by affiliates of Palladium Equity Partners, LLC.

Founded in 1953, Reading Alloys is a leading provider of highly engineered materials for mission critical applications in the aerospace, defense, medical and industrial markets. The company’s products include master alloys, thermal barrier coatings and titanium powders.

As part of our strategic portfolio review process, we have made the decision to divest our Reading Alloys business, said David A. Zapico, AMETEK Chairman and Chief Executive Officer. Reading Alloys is well positioned for continued strong growth given its leading market positions and differentiated manufacturing capabilities. We would like to thank the Reading Alloys team for their tremendous contributions to AMETEK and wish them continued success.

Reading Alloys in an outstanding company with highly skilled people, excellent products and an end market portfolio that fits in perfectly with our existing business, commented Barton White, Chief Executive Officer of Kymera International. The acquisition will allow our two companies to combine strong technical and commercial resources to help fuel future growth of the business.

Reading Alloys has annual sales of approximately $160 million and is being sold in an all-cash transaction valued at $250 million. The transaction is expected to close in the first quarter of 2020 and is subject to customary closing conditions including applicable regulatory approvals.

For the three month period ended November 30, 2019, the Fund had net realized gains of $11,297,555 on investments and foreign currency transactions and an increase in net unrealized appreciation of $13,731,171 on investments and foreign currency transactions.  The Fund’s net investment loss (consisting of dividend and interest income less operating expenses) for the same period was $ 441,120. Its earnings per share (EPS) expected to touch remained 29.40% for this year while earning per share for the next 5-years is expected to reach at 8.20%. AME has a gross margin of 34.70% and an operating margin of 22.70% while its profit margin remained 16.60% for the last 12 months.

According to the most recent quarter its current ratio was 2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.11% from the mean of 20 days, 4.35% from mean of 50 days SMA and performed 13.56% from mean of 200 days price. Company’s performance for the week was 1.70%, 4.04% for month and YTD performance remained 1.89%.

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