Sidoti cut shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) from a buy rating to a neutral rating in a research report released on Wednesday. The brokerage currently has $53.00 price objective on the industrial products company’s stock. The analysts noted that the move was a valuation call.

Several other analysts have also issued reports on the company. Robert W. Baird reissued a hold rating and set a $48.00 price target on shares of Altra Industrial Motion Corp. in a report on Wednesday. ValuEngine lowered Altra Industrial Motion Corp. from a buy rating to a hold rating in a report on Monday. Zacks Investment Research lowered Altra Industrial Motion Corp. from a strong-buy rating to a hold rating in a report on Tuesday, September 26th. BMO Capital Markets reissued a buy rating and set a $53.00 price target on shares of Altra Industrial Motion Corp. in a report on Wednesday, September 6th. Finally, BidaskClub lowered Altra Industrial Motion Corp. from a hold rating to a sell rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $49.20.

Shares of Altra Industrial Motion Corp. (NASDAQ AIMC) traded down 1.20% during mid-day trading on Wednesday, reaching $45.45. The company had a trading volume of 230,573 shares. Altra Industrial Motion Corp. has a one year low of $27.35 and a one year high of $49.60. The stock has a market capitalization of $1.33 billion, a P/E ratio of 38.00 and a beta of 1.67. The firm has a 50 day moving average of $46.42 and a 200-day moving average of $42.35.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.57 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 during the quarter, compared to analyst estimates of $219.15 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. Altra Industrial Motion Corp.’s revenue was up 22.3% compared to the same quarter last year. Analysts forecast that Altra Industrial Motion Corp. will post $2.04 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 18th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, September 15th. Altra Industrial Motion Corp.’s dividend payout ratio is presently 59.13%.

In other news, VP Glenn E. Deegan sold 1,825 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $43.37, for a total value of $79,150.25. Following the transaction, the vice president now directly owns 41,419 shares in the company, valued at $1,796,342.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lyle G. Ganske sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.30, for a total value of $453,000.00. Following the completion of the transaction, the director now owns 11,493 shares in the company, valued at $520,632.90. The disclosure for this sale can be found here. Insiders have sold 64,104 shares of company stock valued at $2,934,408 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC purchased a new position in shares of Altra Industrial Motion Corp. in the second quarter valued at about $2,229,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Altra Industrial Motion Corp. in the second quarter valued at about $642,000. Wasatch Advisors Inc. lifted its position in shares of Altra Industrial Motion Corp. by 38.0% in the second quarter. Wasatch Advisors Inc. now owns 342,509 shares of the industrial products company’s stock valued at $13,632,000 after acquiring an additional 94,230 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Altra Industrial Motion Corp. by 23.5% in the second quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 479 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in shares of Altra Industrial Motion Corp. in the second quarter valued at about $5,383,000. Institutional investors and hedge funds own 98.31% of the company’s stock.

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. It manufactures a range of couplings suitable for various industrial and specialty applications.

Analyst Recommendations for Altra Industrial Motion Corp. (NASDAQ:AIMC)

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