Shares of AMETEK Inc. (NYSE:AME) traded today at $139.69, eclipsing its 52-week high. This new high was reached on below average trading volume as 332,000 shares traded hands, while the average 30-day volume is approximately 933,000 shares.
Ametek is a diversified industrial conglomerate with about $4.5 billion in sales. The firm operates through two segments: electronic instruments, or EIG, and electromechanical, or EMG. EIG designs and manufactures differentiated and advanced instruments for the process, aerospace, power, and industrial end markets. EMG is a focused, niche supplier of highly engineered automation solutions, thermal management systems, specialty metals, and electrical interconnects, among other products. About half of the firm's sales are made in the United States. The firm's asset-light strategy in place for nearly two decades emphasizes growth through acquisitions, new product development through research and development, driving operational efficiencies, and global and market expansion.
AMETEK Inc. (NYSE:AME) has potential upside of 7.7% based on a current price of $138.97 and analysts' consensus price target of $149.67.
Over the past year, AMETEK Inc. has traded in a range of $91.48 to $139.69 and is now at $138.97, 52% above that low.
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