WBI Investments Inc. acquired a new position in Altra Industrial Motion Corp. (NASDAQ:AIMC) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,472 shares of the industrial products company’s stock, valued at approximately $417,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AIMC. Wells Fargo & Company MN boosted its stake in shares of Altra Industrial Motion Corp. by 2.7% in the first quarter. Wells Fargo & Company MN now owns 640,923 shares of the industrial products company’s stock worth $24,964,000 after acquiring an additional 16,750 shares during the period. Capital Fund Management S.A. bought a new position in shares of Altra Industrial Motion Corp. in the first quarter worth about $241,000. US Bancorp DE boosted its stake in shares of Altra Industrial Motion Corp. by 5.8% in the first quarter. US Bancorp DE now owns 27,727 shares of the industrial products company’s stock worth $1,080,000 after acquiring an additional 1,521 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Altra Industrial Motion Corp. by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 193,782 shares of the industrial products company’s stock worth $7,547,000 after acquiring an additional 9,655 shares during the period. Finally, Karp Capital Management Corp bought a new position in shares of Altra Industrial Motion Corp. in the first quarter worth about $247,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Lyle G. Ganske sold 10,000 shares of Altra Industrial Motion Corp. stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $45.30, for a total value of $453,000.00. Following the sale, the director now directly owns 11,493 shares in the company, valued at approximately $520,632.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gerald P. Ferris sold 15,000 shares of Altra Industrial Motion Corp. stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $44.50, for a total value of $667,500.00. Following the completion of the sale, the vice president now owns 16,722 shares in the company, valued at $744,129. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,104 shares of company stock worth $2,934,408. 3.20% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on AIMC. BMO Capital Markets reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Altra Industrial Motion Corp. in a research note on Wednesday, September 6th. ValuEngine raised Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Zacks Investment Research upgraded Altra Industrial Motion Corp. from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Altra Industrial Motion Corp. currently has a consensus rating of “Buy” and an average target price of $47.33.

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Shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) opened at 47.60 on Friday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 39.80 and a beta of 1.64. Altra Industrial Motion Corp. has a 52-week low of $26.78 and a 52-week high of $47.60. The company has a 50 day moving average price of $45.07 and a 200-day moving average price of $41.53.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, September 15th. Altra Industrial Motion Corp.’s payout ratio is 59.13%.

Altra Industrial Motion Corp. 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. 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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