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Mario Gabelli Comments on AMETEK Inc.

- By Holly LaFon

AMETEK Inc. (NYSE:AME) (2.0%)(AME-$72.16-NYSE) is a diversified supplier of highly engineered equipment used in a broad array of industrial end markets. The company offers a diverse product portfolio including test and measurement, metrology, and precision motion control equipment in addition to specialty materials and aftermarket services. Thus far in 2018, AMETEK has spent $270 million acquiring two businesses (following $560 million spent on three acquisitions during full-year 2017). The company currently has over $550 million of cash on its balance sheet and over $800 million of availability on its revolver and expects to remain active on the acquisition front. While the stock traded down during Q2 as concerns have heightened around trade barriers and input cost inflation, AMETEK has demonstrated consistent pricing power and expects to more than offset cost inflation via price increases this year.


From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second quarter 2018 shareholder letter.
This article first appeared on GuruFocus.