abrdn plc Buys Shares of 35,555 Amentum Holdings, Inc. (NYSE:AMTM)

abrdn plc purchased a new position in shares of Amentum Holdings, Inc. (NYSE:AMTM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,555 shares of the company’s stock, valued at approximately $793,000.

Several other hedge funds have also made changes to their positions in the business. Foundations Investment Advisors LLC acquired a new stake in Amentum in the fourth quarter valued at approximately $409,000. Blue Trust Inc. acquired a new stake in Amentum in the fourth quarter valued at approximately $117,000. Exchange Traded Concepts LLC raised its holdings in Amentum by 102.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 13,312 shares of the company’s stock valued at $280,000 after acquiring an additional 6,744 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Amentum in the fourth quarter valued at approximately $211,000. Finally, Red Spruce Capital LLC acquired a new stake in Amentum in the fourth quarter valued at approximately $254,000. Institutional investors and hedge funds own 39.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMTM. Truist Financial assumed coverage on shares of Amentum in a report on Monday, October 14th. They issued a “buy” rating and a $31.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of Amentum in a research report on Thursday, February 6th. Raymond James began coverage on shares of Amentum in a research report on Thursday, November 21st. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Cantor Fitzgerald started coverage on Amentum in a report on Friday. They set a “neutral” rating and a $25.00 price target for the company.

Amentum Price Performance

Amentum stock opened at $22.11 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.57. Amentum Holdings, Inc. has a one year low of $18.38 and a one year high of $34.50. The firm has a fifty day simple moving average of $21.94.

Amentum (NYSE:AMTM) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. On average, analysts expect 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.