Altra Industrial Motion Corp. (NASDAQ:AIMC) Chairman Carl R. Christenson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $47.00, for a total transaction of $470,000.00. Following the completion of the transaction, the chairman now owns 98,805 shares of the company’s stock, valued at $4,643,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Altra Industrial Motion Corp. (AIMC) traded up 1.64% during trading on Friday, hitting $47.60. 199,220 shares of the company were exchanged. The firm has a market capitalization of $1.40 billion, a PE ratio of 39.80 and a beta of 1.64. Altra Industrial Motion Corp. has a 12 month low of $26.78 and a 12 month high of $47.60. The firm’s 50-day moving average price is $45.07 and its 200 day moving average price is $41.53.
Altra Industrial Motion Corp. (NASDAQ:AIMC) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $223.35 million during the quarter, compared to analyst estimates of $219.15 million. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 16.50%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. On average, equities research analysts expect that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 18th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.43%. Altra Industrial Motion Corp.’s dividend payout ratio is currently 59.13%.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC acquired a new stake in Altra Industrial Motion Corp. in the 2nd quarter valued at $2,229,000. Dynamic Technology Lab Private Ltd acquired a new stake in Altra Industrial Motion Corp. in the 2nd quarter valued at $642,000. Wasatch Advisors Inc. grew its stake in Altra Industrial Motion Corp. by 38.0% in the 2nd quarter. Wasatch Advisors Inc. now owns 342,509 shares of the industrial products company’s stock valued at $13,632,000 after acquiring an additional 94,230 shares during the period. Ameritas Investment Partners Inc. grew its stake in 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 acquiring an additional 479 shares during the period. Finally, Castleark Management LLC acquired a new stake in Altra Industrial Motion Corp. in the 2nd quarter valued at $5,383,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $53.00 price target on shares of Altra Industrial Motion Corp. in a research report on Wednesday, September 6th. ValuEngine upgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Zacks Investment Research upgraded shares of 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 research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Altra Industrial Motion Corp. presently has a consensus rating of “Buy” and an average target price of $47.33.
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.
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