Earnest Partners LLC acquired a new position in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 1,985,993 shares of the industrial products company’s stock, valued at approximately $71,257,000.
Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in Altra Industrial Motion during the 2nd quarter worth $59,000. Panagora Asset Management Inc. bought a new stake in Altra Industrial Motion in the 2nd quarter valued at about $67,000. Strs Ohio bought a new stake in Altra Industrial Motion in the 2nd quarter valued at about $89,000. Advisor Group Inc. bought a new stake in Altra Industrial Motion in the 2nd quarter valued at about $127,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Altra Industrial Motion in the 2nd quarter valued at about $130,000.
Several brokerages recently weighed in on AIMC. ValuEngine downgraded shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research report on Friday, July 26th. Robert W. Baird set a $46.00 price objective on shares of Altra Industrial Motion and gave the company a “buy” rating in a research report on Friday, July 26th. BidaskClub upgraded shares of Altra Industrial Motion from a “sell” rating to a “hold” rating in a research report on Saturday, August 31st. TheStreet cut shares of Altra Industrial Motion from a “b-” rating to a “c+” rating in a research note on Monday, August 12th. Finally, KeyCorp lowered their target price on shares of Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $46.25.
Altra Industrial Motion stock opened at $29.70 on Friday. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 10.38 and a beta of 1.96. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average price is $26.10 and its two-hundred day moving average price is $31.82. Altra Industrial Motion Corp has a 52 week low of $23.52 and a 52 week high of $44.05.
Altra Industrial Motion (NASDAQ:AIMC) last released its earnings results on Thursday, July 25th. The industrial products company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). The company had revenue of $466.50 million for the quarter, compared to analyst estimates of $488.01 million. Altra Industrial Motion had a net margin of 4.34% and a return on equity of 10.50%. The firm’s quarterly revenue was up 96.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. Research analysts expect that Altra Industrial Motion Corp will post 2.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.68 annualized dividend and a yield of 2.29%. Altra Industrial Motion’s payout ratio is 23.78%.
In other Altra Industrial Motion news, Director Larry Mcpherson sold 9,922 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $25.40, for a total transaction of $252,018.80. Following the transaction, the director now owns 9,608 shares of the company’s stock, valued at approximately $244,043.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.
About Altra Industrial Motion
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.
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