Morgan Stanley lowered its stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 17.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 112,915 shares of the industrial products company’s stock after selling 24,593 shares during the period. Morgan Stanley’s holdings in Altra Industrial Motion Corp. were worth $4,397,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in Altra Industrial Motion Corp. by 44.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock worth $128,000 after buying an additional 1,010 shares during the period. 1st Global Advisors Inc. bought a new position in shares of Altra Industrial Motion Corp. during the first quarter worth approximately $202,000. Stifel Financial Corp bought a new position in shares of Altra Industrial Motion Corp. during the first quarter worth approximately $226,000. Capital Fund Management S.A. bought a new position in shares of Altra Industrial Motion Corp. during the first quarter worth approximately $241,000. Finally, Karp Capital Management Corp bought a new position in shares of Altra Industrial Motion Corp. during the first quarter worth approximately $247,000. Hedge funds and other institutional investors own 98.20% of the company’s stock.

Altra Industrial Motion Corp. (NASDAQ AIMC) remained flat at $44.05 during midday trading on Friday. 103,541 shares of the company were exchanged. The stock has a 50 day moving average of $41.44 and a 200-day moving average of $40.39. The company has a market cap of $1.29 billion, a P/E ratio of 36.83 and a beta of 1.67. Altra Industrial Motion Corp. has a 12 month low of $26.24 and a 12 month high of $46.90.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, September 15th. Altra Industrial Motion Corp.’s payout ratio is 59.13%.

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AIMC has been the topic of a number of research analyst reports. Jefferies Group LLC upped their target price on shares of Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. Zacks Investment Research downgraded shares of Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. BMO Capital Markets reiterated a “buy” rating and set a $53.00 price objective on shares of Altra Industrial Motion Corp. in a research note on Thursday, July 27th. TheStreet upgraded shares of Altra Industrial Motion Corp. from a “c+” rating to a “b” rating in a research note on Friday, April 28th. Finally, BidaskClub downgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.33.

In related news, Chairman Carl R. Christenson sold 10,000 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $44.00, for a total value of $440,000.00. Following the completion of the sale, the chairman now owns 136,176 shares in the company, valued at approximately $5,991,744. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Todd Patriacca sold 1,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $42.00, for a total transaction of $42,000.00. Following the completion of the sale, the vice president now owns 29,371 shares of the company’s stock, valued at approximately $1,233,582. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,000 shares of company stock valued at $935,000. Company insiders own 3.20% of the company’s stock.

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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