ValuEngine upgraded shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Altra Industrial Motion Corp. from a buy rating to a hold rating in a research note on Monday, July 10th. BidaskClub cut Altra Industrial Motion Corp. from a hold rating to a sell rating in a research note on Saturday, June 24th. BMO Capital Markets reaffirmed a buy rating and issued a $53.00 price target on shares of Altra Industrial Motion Corp. in a research note on Thursday, July 27th. Finally, Jefferies Group LLC boosted their target price on Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the company a hold rating in a research note on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $47.33.

Shares of Altra Industrial Motion Corp. (NASDAQ AIMC) opened at 45.60 on Friday. Altra Industrial Motion Corp. has a 52-week low of $26.24 and a 52-week high of $46.90. The firm has a market cap of $1.34 billion, a P/E ratio of 38.13 and a beta of 1.64. The firm’s 50-day moving average is $43.58 and its 200-day moving average is $41.12.

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

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, September 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.49%. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is presently 59.13%.

In other news, Chairman Carl R. Christenson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $46.00, for a total transaction of $460,000.00. Following the transaction, the chairman now directly owns 98,805 shares of the company’s stock, valued at $4,545,030. The transaction was disclosed in a legal 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 that occurred on Monday, August 21st. The shares were sold at an average price of $44.50, for a total value of $667,500.00. Following the transaction, the vice president now directly owns 16,722 shares in the company, valued at $744,129. The disclosure for this sale can be found here. Insiders have sold 44,180 shares of company stock worth $1,997,980 over the last three months. Insiders own 3.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its stake in shares of Altra Industrial Motion Corp. by 23.5% during the second quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock valued at $100,000 after buying an additional 479 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Altra Industrial Motion Corp. by 44.7% during the first quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock valued at $128,000 after buying an additional 1,010 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Altra Industrial Motion Corp. by 191.6% during the second quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock valued at $176,000 after buying an additional 2,926 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Altra Industrial Motion Corp. by 848.2% during the second quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock valued at $185,000 after buying an additional 4,156 shares during the period. Finally, 1st Global Advisors Inc. purchased a new position in shares of Altra Industrial Motion Corp. during the first quarter valued at approximately $202,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

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