AMETEK, Inc. (NYSE:AME) insider has recently participated in insider trading activity. CHAIRMAN OF THE BOARD & CEO, HERMANCE FRANK S sold 24,000 shares for $46.01 via one transaction Feb 17. Another notable insider trading was done by KLEIN CHARLES D on Feb 10, who is the Director. The insider acquired 16,402 shares at an average price of $45.90. Moreover, an insider selling of 1,500 shares was carried out by Oscher Ronald J, PRES. – ELECTRONIC INSTRUMENTS, on Dec 03. Following the transaction, the insider now owns 500 shares in total. Director VARET ELIZEBETH R sold 500 shares for $54.16 through one transaction Aug 27. Following this sale, this insider’s stake in the company comprises 201,109 shares, priced at $9222858.74 as of Thursday.
The stock has experienced a total of 19 insider trades in the past three months. These trades include 4 sell activities and 19 buy trades. Furthermore, over the past 12 months, the stock was traded 88 times by insiders. In 48 of these trades, the insider was a seller while an employee of the company was the buyer in just 40 instances.
On February 5, 2016 AMETEK, Inc. (AME) announced that it has completed two acquisitions: Brookfield Engineering Laboratories, the world’s leading manufacturer of viscometers and rheometers, and ESP/SurgeX, a leader in energy intelligence and power protection solutions.
“Brookfield Engineering and ESP/SurgeX are excellent acquisitions and strong additions to our Electronic Instruments Group. These businesses will allow us to expand our presence in laboratory instrumentation and power protection, two attractive growth platforms,” comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
Brookfield Engineering
Brookfield offers a complete range of viscometers and rheometers as well as instrumentation to analyze texture and powder flow. Its products are used primarily for quality control applications in the manufacture of products in a broad range of markets including food and beverage, pharmaceuticals, oil and gas, paints, solvents, chemicals, coatings and packaging.
“Brookfield is an outstanding acquisition. It is the global leader in viscosity measurement instrumentation. Its products and technologies complement our existing laboratory instrumentation businesses and provide us with opportunities to expand that business platform into a broader range of markets and applications,” comments Mr. Hermance.
Brookfield Engineering Laboratories, with annual sales of approximately $55 million, was acquired for approximately $167 million. Headquartered in Middleboro, MA, with additional operations in Germany, the United Kingdom, China and India, Brookfield joins AMETEK as a unit of its Instrumentation and Specialty Controls division within the AMETEK Electronic Instruments Group (EIG).
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