Primecap Management Co. CA Purchases 1,143,097 Shares of Amentum Holdings, Inc. (NYSE:AMTM)

Primecap Management Co. CA increased its holdings in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,414,379 shares of the company's stock after buying an additional 1,143,097 shares during the period. Primecap Management Co. CA owned 2.64% of Amentum worth $134,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMTM. State Street Corp bought a new position in Amentum in the third quarter valued at approximately $236,306,000. Geode Capital Management LLC bought a new position in Amentum in the third quarter valued at approximately $101,022,000. Ruane Cunniff & Goldfarb L.P. bought a new position in Amentum in the third quarter valued at approximately $81,608,000. Thompson Siegel & Walmsley LLC increased its stake in Amentum by 469.4% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,948,684 shares of the company's stock valued at $40,981,000 after acquiring an additional 1,606,442 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Amentum by 66.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,264,257 shares of the company's stock valued at $26,587,000 after acquiring an additional 503,741 shares during the last quarter. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Barbara Loughran purchased 4,600 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $21.23 per share, with a total value of $97,658.00. Following the completion of the purchase, the director now owns 4,600 shares in the company, valued at approximately $97,658. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven J. Demetriou bought 100,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were acquired at an average price of $20.81 per share, for a total transaction of $2,081,000.00. Following the transaction, the insider now owns 620,893 shares in the company, valued at $12,920,783.33. This represents a 19.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 18.67% of the company's stock.

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Amentum Price Performance

AMTM traded up $0.01 on Friday, reaching $18.33. The stock had a trading volume of 3,774,136 shares, compared to its average volume of 2,778,734. Amentum Holdings, Inc. has a fifty-two week low of $16.95 and a fifty-two week high of $34.47. The firm's 50-day moving average price is $20.44. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.06. Analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMTM. Royal Bank of Canada reissued a "sector perform" rating and issued a $24.00 price objective on shares of Amentum in a research note on Thursday, February 6th. The Goldman Sachs Group initiated coverage on shares of Amentum in a research note on Thursday. They set a "neutral" rating and a $21.00 target price on the stock. Finally, Cantor Fitzgerald upgraded Amentum to a "hold" rating in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Amentum currently has an average rating of "Hold" and a consensus price target of $26.20.

About Amentum

Amentum Holdings, Inc provides engineering and technology solutions to address challenges in science, security, and sustainability. It serves various markets, such as energy and environment, space, intelligence, defense, civilian, commercial, and international markets. The company was incorporated in 2010 and is headquatered in Chantilly, Virginia.