Nuveen Asset Management LLC Purchases 68,860 Shares of Altra Industrial Motion Corp. (NASDAQ:AIMC)

Nuveen Asset Management LLC boosted its stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 19.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 426,304 shares of the industrial products company’s stock after buying an additional 68,860 shares during the period. Nuveen Asset Management LLC owned about 1.45% of Altra Industrial Motion Corp. worth $16,605,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Bbva Compass Bancshares Inc. increased its position in shares of Altra Industrial Motion Corp. by 4.6% in the first quarter. Bbva Compass Bancshares Inc. now owns 7,098 shares of the industrial products company’s stock worth $277,000 after buying an additional 311 shares during the last quarter. Putnam Investments LLC increased its position in shares of Altra Industrial Motion Corp. by 1.7% in the fourth quarter. Putnam Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $812,000 after buying an additional 366 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Altra Industrial Motion Corp. by 6.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,353 shares of the industrial products company’s stock worth $286,000 after buying an additional 425 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Altra Industrial Motion Corp. by 44.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock worth $128,000 after buying an additional 1,010 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its position in shares of Altra Industrial Motion Corp. by 10.0% in the fourth quarter. First Republic Investment Management Inc. now owns 12,425 shares of the industrial products company’s stock worth $458,000 after buying an additional 1,130 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Shares of Altra Industrial Motion Corp. (AIMC) traded up 1.73% on Friday, reaching $44.00. The company’s stock had a trading volume of 235,880 shares. Altra Industrial Motion Corp. has a 1-year low of $26.24 and a 1-year high of $46.90. The company’s 50 day moving average is $40.90 and its 200-day moving average is $39.92. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 36.79 and a beta of 1.65.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. Altra Industrial Motion Corp. had a return on equity of 17.55% and a net margin of 4.17%. The company had revenue of $223.35 million during the quarter, compared to analysts’ expectations of $219.15 million. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was up 22.3% on a year-over-year basis. Equities research analysts expect that Altra Industrial Motion Corp. will post $2.04 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be given a $0.17 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.55%. Altra Industrial Motion Corp.’s payout ratio is 59.13%.

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AIMC has been the topic of a number of recent analyst reports. TheStreet raised Altra Industrial Motion Corp. from a “c+” rating to a “b” rating in a research note on Friday, April 28th. Zacks Investment Research raised Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, May 2nd. BMO Capital Markets reissued a “buy” rating and issued a $53.00 price objective on shares of Altra Industrial Motion Corp. in a research note on Thursday. Jefferies Group LLC lifted their price target on Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 8th. Finally, BidaskClub downgraded Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Altra Industrial Motion Corp. has a consensus rating of “Buy” and a consensus target price of $47.33.

In other news, Chairman Carl R. Christenson sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $43.32, for a total value of $1,732,800.00. Following the completion of the sale, the chairman now directly owns 136,176 shares of the company’s stock, valued at $5,899,144.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Todd Patriacca sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $42.00, for a total value of $42,000.00. Following the completion of the sale, the vice president now directly owns 29,371 shares of the company’s stock, valued at $1,233,582. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,000 shares of company stock valued at $2,214,800. Insiders own 3.20% of the company’s stock.

About Altra Industrial Motion Corp.

Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. It manufactures a range of couplings suitable for various industrial and specialty applications.

Institutional Ownership by Quarter for Altra Industrial Motion Corp. (NASDAQ:AIMC)

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