American Securities LLC Acquires New Shares in Amentum Holdings, Inc. (NYSE:AMTM)

Key Points

• American Securities LLC acquired 43,893,904 shares of Amentum Holdings, Inc., making it approximately 18.04% of their holdings and valued at around $798.87 million.
• Analysts have mixed opinions on Amentum, with a consensus rating of "Hold" and an average price target of $25.89.
• Amentum reported $0.56 earnings per share (EPS) for the last quarter, exceeding expectations of $0.53, with a significant year-over-year revenue increase of 66.2%.

American Securities LLC acquired a new stake in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 43,893,904 shares of the company's stock, valued at approximately $798,869,000. Amentum comprises about 100.0% of American Securities LLC's holdings, making the stock its largest holding. American Securities LLC owned approximately 18.04% of Amentum at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMTM. Huntington National Bank purchased a new stake in shares of Amentum during the fourth quarter valued at $30,000. Signaturefd LLC boosted its position in Amentum by 108.0% in the first quarter. Signaturefd LLC now owns 1,764 shares of the company's stock worth $32,000 after purchasing an additional 916 shares during the last quarter. FNY Investment Advisers LLC boosted its position in Amentum by 380.0% in the first quarter. FNY Investment Advisers LLC now owns 2,400 shares of the company's stock worth $43,000 after purchasing an additional 1,900 shares during the last quarter. National Bank of Canada FI boosted its position in Amentum by 31,328.6% in the fourth quarter. National Bank of Canada FI now owns 2,200 shares of the company's stock worth $46,000 after purchasing an additional 2,193 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Amentum by 78.8% in the first quarter. GAMMA Investing LLC now owns 3,137 shares of the company's stock worth $57,000 after purchasing an additional 1,383 shares during the last quarter. 39.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on AMTM shares. Bank of America started coverage on Amentum in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $24.00 target price on the stock. Morgan Stanley started coverage on Amentum in a research report on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 target price on the stock. Royal Bank Of Canada set a $24.00 target price on Amentum and gave the stock a "sector perform" rating in a research report on Wednesday, May 21st. Truist Financial raised their price objective on Amentum from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Citizens Jmp started coverage on Amentum in a research note on Monday, May 12th. They issued an "outperform" rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $25.89.

Amentum Stock Performance

NYSE:AMTM opened at $25.70 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.56 and a quick ratio of 1.56. Amentum Holdings, Inc. has a 1 year low of $16.01 and a 1 year high of $34.50. The stock's 50 day simple moving average is $23.51 and its two-hundred day simple moving average is $21.20. The company has a market cap of $6.25 billion and a price-to-earnings ratio of 65.89.

Amentum (NYSE:AMTM - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. Amentum had a return on equity of 10.91% and a net margin of 0.41%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.51 billion. The company's revenue was up 66.2% on a year-over-year basis. As a group, equities analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

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.

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