Van ECK Associates Corp Buys New Stake in Amentum Holdings, Inc. (NYSE:AMTM)

Van ECK Associates Corp acquired a new stake in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,132,285 shares of the company's stock, valued at approximately $23,812,000. Van ECK Associates Corp owned about 0.47% of Amentum as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. State Street Corp purchased a new stake in shares of Amentum during the 3rd quarter valued at about $236,306,000. Primecap Management Co. CA purchased a new stake in shares of Amentum during the 3rd quarter valued at about $169,999,000. Geode Capital Management LLC purchased a new stake in shares of Amentum during the 3rd quarter valued at about $101,022,000. Ruane Cunniff & Goldfarb L.P. purchased a new stake in shares of Amentum during the 3rd quarter valued at about $81,608,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Amentum during the 3rd quarter valued at about $78,399,000. 39.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMTM. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Amentum in a report on Thursday, February 6th. Raymond James began coverage on shares of Amentum in a research note on Thursday, November 21st. They issued an "outperform" rating and a $30.00 price objective on the stock. Finally, Cantor Fitzgerald began coverage on shares of Amentum in a research note on Friday, February 7th. They issued a "neutral" rating and a $25.00 price objective on the stock.

Amentum Price Performance

Shares of NYSE:AMTM traded up $2.05 during trading on Tuesday, hitting $21.85. The company's stock had a trading volume of 1,223,555 shares, compared to its average volume of 2,253,563. The company has a 50-day simple moving average of $21.59. Amentum Holdings, Inc. has a 12 month low of $18.38 and a 12 month high of $34.50. The company has a quick ratio of 1.57, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

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

Insiders Place Their Bets

In related news, insider Steven J. Demetriou acquired 100,000 shares of Amentum stock in a transaction dated Wednesday, February 12th. The shares were purchased at an average price of $20.81 per share, for a total transaction of $2,081,000.00. Following the completion of the transaction, the insider now directly owns 620,893 shares in the company, valued at approximately $12,920,783.33. This represents a 19.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.67% of the stock is owned by company insiders.

Amentum Profile

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.