Engine Capital Management LP Purchases New Holdings in Amentum Holdings, Inc. (NYSE:AMTM)

Engine Capital Management LP purchased a new stake in Amentum Holdings, Inc. (NYSE:AMTM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 621,400 shares of the company’s stock, valued at approximately $13,068,000. Amentum makes up approximately 2.4% of Engine Capital Management LP’s investment portfolio, making the stock its 16th biggest holding. Engine Capital Management LP owned approximately 0.26% of Amentum at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. First Manhattan CO. LLC. bought a new stake in shares of Amentum in the 4th quarter valued at about $370,000. D. E. Shaw & Co. Inc. raised its stake in Amentum by 38.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 119,936 shares of the company’s stock valued at $2,522,000 after buying an additional 33,546 shares during the period. Centiva Capital LP bought a new stake in Amentum in the fourth quarter valued at approximately $2,190,000. Captrust Financial Advisors boosted its stake in shares of Amentum by 5.9% during the 4th quarter. Captrust Financial Advisors now owns 25,856 shares of the company’s stock worth $544,000 after acquiring an additional 1,445 shares during the period. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Amentum during the 4th quarter worth approximately $520,000. Institutional investors own 39.93% of the company’s stock.

Amentum Trading Up 1.1 %

Shares of NYSE AMTM opened at $21.34 on Friday. The company has a 50 day simple moving average of $19.09 and a 200 day simple moving average of $21.97. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02. Amentum Holdings, Inc. has a 1 year low of $16.01 and a 1 year high of $34.47.

Amentum (NYSE:AMTM) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. Equities research analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. The Goldman Sachs Group began coverage on Amentum in a report on Thursday, March 20th. They set a “neutral” rating and a $21.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 target price on shares of Amentum in a report on Thursday, February 6th. Truist Financial cut their price objective on shares of Amentum from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, April 14th. BTIG Research began coverage on Amentum in a research report on Tuesday, April 15th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Morgan Stanley initiated coverage on Amentum in a research note on Wednesday, April 16th. They set an “underweight” rating and a $19.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Amentum currently has an average rating of “Hold” and an average price target of $24.71.

Amentum Company 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.