Schwab Charles Investment Management Inc. increased its holdings in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) by 7.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 212,510 shares of the industrial products company’s stock after purchasing an additional 14,051 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Altra Industrial Motion were worth $9,160,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantitative Systematic Strategies LLC bought a new stake in Altra Industrial Motion during the 2nd quarter worth approximately $218,000. Xact Kapitalforvaltning AB increased its stake in Altra Industrial Motion by 33.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 1,400 shares in the last quarter. UBS Group AG increased its stake in Altra Industrial Motion by 138.7% during the 1st quarter. UBS Group AG now owns 6,589 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 3,829 shares in the last quarter. Koch Industries Inc. bought a new stake in Altra Industrial Motion during the 1st quarter worth approximately $405,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Altra Industrial Motion during the 2nd quarter worth approximately $438,000. 99.87% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on AIMC shares. Zacks Investment Research cut Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Wednesday, May 30th. BidaskClub cut Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 5th. Robert W. Baird reissued a “buy” rating and set a $52.00 target price on shares of Altra Industrial Motion in a research note on Friday, July 20th. Finally, ValuEngine raised Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $51.80.
Shares of AIMC opened at $42.80 on Tuesday. The company has a market cap of $1.26 billion, a PE ratio of 18.49 and a beta of 1.73. Altra Industrial Motion Corp has a twelve month low of $37.80 and a twelve month high of $53.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.58 and a quick ratio of 1.50.
Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $237.32 million during the quarter, compared to analysts’ expectations of $239.02 million. Altra Industrial Motion had a net margin of 5.87% and a return on equity of 16.87%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. sell-side analysts expect that Altra Industrial Motion Corp will post 2.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.59%. Altra Industrial Motion’s dividend payout ratio is currently 33.17%.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.
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