Altra Industrial Motion Corp. (AIMC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,857 shares of the industrial products company’s stock after purchasing an additional 2,328 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Altra Industrial Motion Corp. worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AIMC. JPMorgan Chase & Co. raised its holdings in Altra Industrial Motion Corp. by 12.8% during the first quarter. JPMorgan Chase & Co. now owns 1,726,380 shares of the industrial products company’s stock worth $67,242,000 after purchasing an additional 195,242 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Altra Industrial Motion Corp. by 106.3% during the first quarter. Loomis Sayles & Co. L P now owns 250,034 shares of the industrial products company’s stock worth $9,739,000 after purchasing an additional 128,806 shares in the last quarter. Vanguard Group Inc. raised its holdings in Altra Industrial Motion Corp. by 6.1% during the first quarter. Vanguard Group Inc. now owns 2,040,568 shares of the industrial products company’s stock worth $79,480,000 after purchasing an additional 117,984 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Altra Industrial Motion Corp. by 19.3% during the first quarter. Nuveen Asset Management LLC now owns 426,304 shares of the industrial products company’s stock worth $16,605,000 after purchasing an additional 68,860 shares in the last quarter. Finally, State Street Corp raised its holdings in Altra Industrial Motion Corp. by 14.2% during the first quarter. State Street Corp now owns 530,226 shares of the industrial products company’s stock worth $20,652,000 after purchasing an additional 66,001 shares in the last quarter. 98.31% of the stock is currently owned by institutional investors.

In related news, Director Lyle G. Ganske sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.30, for a total transaction of $453,000.00. Following the sale, the director now directly owns 11,493 shares of the company’s stock, valued at approximately $520,632.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Carl R. Christenson sold 8,323 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $47.00, for a total value of $391,181.00. Following the sale, the chief executive officer now directly owns 98,805 shares in the company, valued at $4,643,835. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,104 shares of company stock worth $2,934,408. Corporate insiders own 3.20% of the company’s stock.

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AIMC has been the topic of a number of research analyst reports. BidaskClub cut shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research cut shares of Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BMO Capital Markets reissued a “buy” rating and set a $53.00 price objective on shares of Altra Industrial Motion Corp. in a report on Thursday, July 27th. Finally, ValuEngine raised shares of Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $47.33.

Altra Industrial Motion Corp. (AIMC) opened at 47.55 on Thursday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 39.76 and a beta of 1.64. Altra Industrial Motion Corp. has a 12 month low of $26.95 and a 12 month high of $48.60. The stock’s 50 day moving average is $45.30 and its 200-day moving average is $41.67.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The business had revenue of $223.35 million for the quarter, compared to analyst estimates of $219.15 million. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. On average, equities research analysts expect that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 18th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, September 15th. Altra Industrial Motion Corp.’s dividend payout ratio is currently 59.13%.

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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