Altra Industrial Motion Corp (AIMC) Reaches New 1-Year High at $46.98

Altra Industrial Motion Corp (NASDAQ:AIMC) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $46.98 and last traded at $46.95, with a volume of 38,010 shares changing hands. The stock had previously closed at $46.35.

A number of brokerages have issued reports on AIMC. BMO Capital Markets reissued a “buy” rating and issued a $53.00 price target on shares of Altra Industrial Motion Corp in a report on Wednesday, September 6th. ValuEngine raised Altra Industrial Motion Corp from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised Altra Industrial Motion Corp from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a report on Thursday, July 27th. Finally, BidaskClub downgraded Altra Industrial Motion Corp from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.33.

The company’s 50 day moving average price is $44.95 and its 200-day moving average price is $41.48. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 39.28 and a beta of 1.64.

Altra Industrial Motion Corp (NASDAQ:AIMC) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Altra Industrial Motion Corp had a return on equity of 17.23% and a net margin of 6.89%. 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 earned $0.42 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that Altra Industrial Motion Corp will post $2.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 18th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.45%. Altra Industrial Motion Corp’s payout ratio is 59.13%.

In other news, VP Glenn E. Deegan sold 1,825 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $43.37, for a total value of $79,150.25. Following the completion of the sale, the vice president now directly owns 41,419 shares of the company’s stock, valued at approximately $1,796,342.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gerald P. Ferris sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $44.50, for a total value of $667,500.00. Following the completion of the sale, the vice president now directly owns 16,722 shares of the company’s stock, valued at $744,129. The disclosure for this sale can be found here. Insiders have sold a total of 44,180 shares of company stock valued at $1,997,980 over the last ninety days. 3.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AIMC. Ameritas Investment Partners Inc. lifted its holdings in shares of Altra Industrial Motion Corp by 23.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock valued at $100,000 after buying an additional 479 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Altra Industrial Motion Corp by 44.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock valued at $128,000 after buying an additional 1,010 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Altra Industrial Motion Corp by 191.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock valued at $176,000 after buying an additional 2,926 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Altra Industrial Motion Corp by 848.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock valued at $185,000 after buying an additional 4,156 shares during the period. Finally, 1st Global Advisors Inc. acquired a new stake in shares of Altra Industrial Motion Corp in the 1st quarter valued at approximately $202,000. 98.31% of the stock is owned by institutional investors and hedge funds.

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Altra Industrial Motion Corp Company Profile

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.

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