filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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The principal market on which the Company’s common stock is traded is the New York Stock Exchange and it is traded under the symbol “AME.” On January 31, 2017, there were approximately 2,000 holders of record of the Company’s common stock.
Market price and dividend information with respect to the Company’s common stock is set forth below. Future dividend payments by the Company will be dependent on future earnings, financial requirements, contractual provisions of debt agreements and other relevant factors.
Under its share repurchase program, the Company repurchased approximately 7,099,000 shares of its common stock for $336.1 million in 2016 and approximately 7,978,000 shares of its common stock for $435.4 million in 2015.
The high and low sales prices of the Company’s common stock on the New York Stock Exchange composite tape and the quarterly dividends per share paid on the common stock were:
| First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||
| 2016 | ||||||||||||||||
| Dividends paid per share | $ | 0.09 | $ | 0.09 | $ | 0.09 | $ | 0.09 | ||||||||
| Common stock trading range: | ||||||||||||||||
| High | $ | 52.93 | $ | 52.61 | $ | 50.27 | $ | 51.26 | ||||||||
| Low | $ | 42.82 | $ | 43.28 | $ | 43.30 | $ | 43.98 | ||||||||
| 2015 | ||||||||||||||||
| Dividends paid per share | $ | 0.09 | $ | 0.09 | $ | 0.09 | $ | 0.09 | ||||||||
| Common stock trading range: | ||||||||||||||||
| High | $ | 54.00 | $ | 55.56 | $ | 57.67 | $ | 57.00 | ||||||||
| Low | $ | 47.85 | $ | 51.23 | $ | 50.55 | $ | 50.97 |
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Issuer Purchases of Equity Securities
The following table reflects purchases of AMETEK, Inc. common stock by the Company during the three months ended December 31, 2016:
| Period | Total Number of Shares Purchased (1)(2) | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plan (2) | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan | ||||||||||||
| October 1, 2016 to October 31, 2016 | 376 | $ | 44.80 | 376 | $ | 75,639,899 | ||||||||||
| November 1, 2016 to November 30, 2016 | 2,103,351 | 47.56 | 2,103,351 | 375,594,178 | ||||||||||||
| December 1, 2016 to December 31, 2016 | — | — | — | 375,594,178 | ||||||||||||
| Total | 2,103,727 | 47.56 | 2,103,727 | |||||||||||||
| (1) | Includes 458 shares surrendered to the Company to satisfy tax withholding obligations in connection with employees’ share-based compensation awards. |
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| (2) | Consists of the number of shares purchased pursuant to the Company’s Board of Directors remaining portion of the $350 million authorization for the repurchase of its common stock announced in November 2015 and $400 million authorization for the repurchase of its common stock announced in November 2016. Such purchases may be effected from time to time in the open market or in private transactions, subject to market conditions and at management’s discretion. |
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Securities Authorized for Issuance Under Equity Compensation Plan Information
The following table sets forth information as of December 31, 2016 regarding all of the Company’s existing compensation plans pursuant to which equity securities are authorized for issuance to employees and nonemployee directors:
| Plan category | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | Weighted average exercise price of outstanding options, warrants and rights (b) | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) | |||||||||
| Equity compensation plans approved by security holders | 6,010,806 | $ | 42.25 | 7,994,840 | ||||||||
| Equity compensation plans not approved by security holders | — | — | — | |||||||||
| Total | 6,010,806 | $ | 42.25 | 7,994,840 | ||||||||
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Stock Performance Graph
The following graph and accompanying table compare the cumulative total stockholder return for AMETEK over the last five years ended December 31, 2016 with total returns for the same period for the Standard and Poor’s (“S&P”) 500 Index and Russell 1000 Index. AMETEK’s stock price is a component of both indices. The performance graph and table assume a $100 investment made on December 31, 2011 and reinvestment of all dividends. The stock performance shown on the graph below is based on historical data and is not necessarily indicative of future stock price performance.
COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN
| December 31, | ||||||||||||||||||||||||
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||||||
| AMETEK, Inc. | $ | 100.00 | $ | 134.71 | $ | 189.86 | $ | 190.91 | $ | 195.70 | $ | 178.82 | ||||||||||||
| S&P 500 Index | 100.00 | 116.00 | 153.58 | 174.60 | 177.01 | 198.18 | ||||||||||||||||||
| Russell 1000 Index | 100.00 | 116.42 | 154.97 | 175.49 | 177.10 | 198.44 |
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