Altra Industrial Motion Corp. (AIMC) Receives Average Rating of “Buy” from Brokerages
Shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) have earned a consensus rating of “Buy” from the six research firms that are currently covering the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $27.50.
A number of analysts have issued reports on the stock. TheStreet upgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, November 9th. Stephens upgraded shares of Altra Industrial Motion Corp. from an “equal weight” rating to an “overweight” rating in a research note on Monday, October 24th. Finally, Zacks Investment Research cut shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd.
In other news, CFO Christian Storch sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $30.75, for a total value of $307,500.00. Following the completion of the sale, the chief financial officer now directly owns 17,672 shares in the company, valued at $543,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gerald P. Ferris sold 15,000 shares of the business’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $35.40, for a total transaction of $531,000.00. Following the completion of the sale, the vice president now owns 46,183 shares of the company’s stock, valued at $1,634,878.20. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of AIMC. Integrated Investment Consultants LLC boosted its stake in shares of Altra Industrial Motion Corp. by 15.0% in the third quarter. Integrated Investment Consultants LLC now owns 4,155 shares of the company’s stock worth $120,000 after buying an additional 543 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Altra Industrial Motion Corp. during the second quarter worth $187,000. Principal Financial Group Inc. purchased a new stake in shares of Altra Industrial Motion Corp. during the second quarter worth $204,000. Stevens Capital Management LP purchased a new stake in shares of Altra Industrial Motion Corp. during the third quarter worth $209,000. Finally, Algert Global LLC purchased a new stake in shares of Altra Industrial Motion Corp. during the second quarter worth $218,000.
Shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) traded down 0.927% on Tuesday, reaching $34.725. 38,168 shares of the company’s stock traded hands. Altra Industrial Motion Corp. has a 52 week low of $20.55 and a 52 week high of $35.85. The firm has a market capitalization of $898.82 million, a P/E ratio of 30.222 and a beta of 1.36. The company’s 50-day moving average is $31.29 and its 200-day moving average is $28.83.
Altra Industrial Motion Corp. (NASDAQ:AIMC) last posted its earnings results on Friday, October 21st. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. The firm earned $173.10 million during the quarter, compared to analysts’ expectations of $175.10 million. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 15.75%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. Equities research analysts anticipate that Altra Industrial Motion Corp. will post $1.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Monday, December 19th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, December 15th. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is presently 53.10%.
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Altra Industrial Motion Corp. Company Profile
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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