Raymond James Financial Services Advisors Inc. decreased its holdings in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) by 28.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,758 shares of the industrial products company’s stock after selling 5,366 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Altra Industrial Motion were worth $593,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Global X Management Co. LLC raised its position in Altra Industrial Motion by 164.6% during the 1st quarter. Global X Management Co. LLC now owns 5,557 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 3,457 shares during the last quarter. Wells Fargo & Company MN raised its position in Altra Industrial Motion by 17.4% during the 1st quarter. Wells Fargo & Company MN now owns 637,671 shares of the industrial products company’s stock valued at $29,301,000 after purchasing an additional 94,423 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Altra Industrial Motion by 3.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 325,849 shares of the industrial products company’s stock valued at $14,973,000 after purchasing an additional 11,800 shares during the last quarter. Comerica Bank raised its position in Altra Industrial Motion by 12.8% during the 1st quarter. Comerica Bank now owns 69,157 shares of the industrial products company’s stock valued at $3,129,000 after purchasing an additional 7,856 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in Altra Industrial Motion by 5.3% during the 1st quarter. Frontier Capital Management Co. LLC now owns 581,535 shares of the industrial products company’s stock valued at $26,722,000 after purchasing an additional 29,363 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

In other Altra Industrial Motion news, VP Todd Patriacca sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $46.00, for a total transaction of $151,800.00. Following the transaction, the vice president now owns 22,590 shares in the company, valued at approximately $1,039,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

AIMC stock opened at $38.40 on Friday. Altra Industrial Motion Corp has a fifty-two week low of $37.80 and a fifty-two week high of $53.70. The company has a current ratio of 2.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 16.40 and a beta of 1.74.

Altra Industrial Motion (NASDAQ:AIMC) last posted its earnings results on Thursday, July 26th. The industrial products company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Altra Industrial Motion had a return on equity of 16.87% and a net margin of 5.87%. The firm had revenue of $237.32 million for the quarter, compared to the consensus estimate of $239.02 million. During the same quarter in the prior year, the business earned $0.57 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. analysts expect that Altra Industrial Motion Corp will post 2.54 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.77%. Altra Industrial Motion’s dividend payout ratio (DPR) is 33.17%.

A number of research analysts have commented on AIMC shares. Zacks Investment Research lowered Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Tuesday, May 15th. BMO Capital Markets upped their price target on Altra Industrial Motion from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Robert W. Baird reiterated a “buy” rating and set a $52.00 target price on shares of Altra Industrial Motion in a report on Friday, July 20th. Sidoti upgraded Altra Industrial Motion from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday. Finally, BidaskClub downgraded Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 5th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Altra Industrial Motion currently has an average rating of “Hold” and an average price target of $51.80.

About Altra Industrial Motion

Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.

Featured Story: How do investors use RSI to grade stocks?

Want to see what other hedge funds are holding AIMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altra Industrial Motion Corp (NASDAQ:AIMC).

Institutional Ownership by Quarter for Altra Industrial Motion (NASDAQ:AIMC)

Receive News & Ratings for Altra Industrial Motion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altra Industrial Motion and related companies with MarketBeat.com's FREE daily email newsletter.