Wedge Capital Management L L P NC decreased its stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 501,109 shares of the company’s stock after selling 10,350 shares during the period. Wedge Capital Management L L P NC owned approximately 1.93% of Altra Industrial Motion Corp. worth $13,520,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AIMC. Acadian Asset Management LLC bought a new position in Altra Industrial Motion Corp. during the second quarter valued at $1,287,000. Nordea Investment Management AB bought a new position in Altra Industrial Motion Corp. during the second quarter valued at $460,000. Eagle Boston Investment Management Inc. raised its position in Altra Industrial Motion Corp. by 2.8% in the second quarter. Eagle Boston Investment Management Inc. now owns 210,733 shares of the company’s stock valued at $5,685,000 after buying an additional 5,684 shares during the last quarter. Panagora Asset Management Inc. raised its position in Altra Industrial Motion Corp. by 10.3% in the first quarter. Panagora Asset Management Inc. now owns 167,775 shares of the company’s stock valued at $4,661,000 after buying an additional 15,723 shares during the last quarter. Finally, Barclays PLC raised its position in Altra Industrial Motion Corp. by 22.9% in the first quarter. Barclays PLC now owns 30,664 shares of the company’s stock valued at $827,000 after buying an additional 5,718 shares during the last quarter.

Institutional Ownership by Quarter for Altra Industrial Motion Corp. (NASDAQ:AIMC)

Altra Industrial Motion Corp. (NASDAQ:AIMC) traded down 0.14% during trading on Friday, hitting $28.86. The stock had a trading volume of 140,077 shares. Altra Industrial Motion Corp. has a one year low of $20.55 and a one year high of $30.00. The stock has a 50 day moving average of $28.33 and a 200 day moving average of $28.09. The firm has a market capitalization of $747.59 million, a P/E ratio of 21.72 and a beta of 1.58.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its earnings results on Thursday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Altra Industrial Motion Corp. had a return on equity of 16.69% and a net margin of 4.79%. The business earned $182.70 million during the quarter, compared to analysts’ expectations of $183.38 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities research analysts expect that Altra Industrial Motion Corp. will post $1.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Monday, September 19th were issued a $0.15 dividend. The ex-dividend date was Thursday, September 15th. This represents a $0.60 dividend on an annualized basis and a yield of 2.08%. Altra Industrial Motion Corp.’s payout ratio is presently 45.45%.

Separately, Zacks Investment Research lowered Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.00.

In other Altra Industrial Motion Corp. news, Director James H. Woodward, Jr. sold 8,847 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $28.34, for a total value of $250,723.98. Following the completion of the transaction, the director now owns 21,327 shares of the company’s stock, valued at approximately $604,407.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Carl R. Christenson sold 26,500 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $28.63, for a total value of $758,695.00. Following the completion of the transaction, the chief executive officer now directly owns 107,415 shares of the company’s stock, valued at approximately $3,075,291.45. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

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. The Company’s products are used to control and transmit power and torque in virtually any industrial application involving movement.

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