Altra Industrial Motion Corp. (AIMC) Posts Earnings Results, Beats Estimates By $0.02 EPS
Altra Industrial Motion Corp. (NASDAQ:AIMC) released its quarterly earnings data on Friday. The industrial products company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02, Bloomberg Earnings reports. The business had revenue of $214.60 million for the quarter, compared to the consensus estimate of $210.79 million. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS.
Altra Industrial Motion Corp. (AIMC) traded down 1.93% on Friday, reaching $48.35. The company had a trading volume of 343,085 shares. The firm has a market capitalization of $1.42 billion, a PE ratio of 34.29 and a beta of 1.67. Altra Industrial Motion Corp. has a 12 month low of $27.35 and a 12 month high of $50.00. The stock has a 50 day moving average of $47.38 and a 200 day moving average of $43.18.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Monday, December 18th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.41%. Altra Industrial Motion Corp.’s dividend payout ratio is presently 48.23%.
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In other news, VP Craig Schuele sold 1,685 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $50.00, for a total transaction of $84,250.00. Following the completion of the transaction, the vice president now directly owns 71,201 shares of the company’s stock, valued at $3,560,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lyle G. Ganske sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.30, for a total value of $453,000.00. Following the transaction, the director now directly owns 11,493 shares of the company’s stock, valued at $520,632.90. The disclosure for this sale can be found here. Insiders have sold 65,789 shares of company stock valued at $3,018,658 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.
A number of research analysts recently issued reports on the company. BMO Capital Markets restated a “buy” rating and set a $53.00 price target on shares of Altra Industrial Motion Corp. in a research note on Wednesday, September 6th. ValuEngine upgraded Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Sidoti downgraded Altra Industrial Motion Corp. from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. BidaskClub downgraded Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note 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 price target on the stock in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.20.
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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