Insider Selling: Altra Industrial Motion Corp (NASDAQ:AIMC) Director Sells 9,922 Shares of Stock
Altra Industrial Motion Corp (NASDAQ:AIMC) Director Larry Mcpherson sold 9,922 shares of Altra Industrial Motion stock in a transaction on Friday, August 9th. The stock was sold at an average price of $25.40, for a total transaction of $252,018.80. Following the sale, the director now directly owns 9,608 shares of the company’s stock, valued at $244,043.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Altra Industrial Motion stock traded up $0.42 during trading on Tuesday, hitting $25.14. 445,703 shares of the stock were exchanged, compared to its average volume of 521,970. The company has a market cap of $1.64 billion, a PE ratio of 8.79 and a beta of 1.94. The business’s 50-day simple moving average is $31.57. Altra Industrial Motion Corp has a 12-month low of $23.52 and a 12-month high of $44.05. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.89.
Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). Altra Industrial Motion had a return on equity of 10.50% and a net margin of 4.34%. The company had revenue of $466.50 million for the quarter, compared to analyst estimates of $488.01 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. Altra Industrial Motion’s revenue was up 96.6% compared to the same quarter last year. On average, equities analysts forecast that Altra Industrial Motion Corp will post 2.92 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in Altra Industrial Motion during the 2nd quarter worth $59,000. Panagora Asset Management Inc. acquired a new stake in Altra Industrial Motion during the 2nd quarter worth $67,000. Strs Ohio acquired a new stake in Altra Industrial Motion during the 2nd quarter worth $89,000. Advisor Group Inc. acquired a new stake in Altra Industrial Motion during the 2nd quarter worth $127,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Altra Industrial Motion during the 2nd quarter worth $130,000.
Several equities research analysts have recently issued reports on AIMC shares. BidaskClub cut shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Zacks Investment Research raised shares of Altra Industrial Motion from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Robert W. Baird set a $46.00 price objective on shares of Altra Industrial Motion and gave the stock a “buy” rating in a research report on Friday, July 26th. KeyCorp decreased their price objective on shares of Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, TheStreet raised shares of Altra Industrial Motion from a “c+” rating to a “b” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, one has issued 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 $47.20.
About Altra Industrial Motion
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.
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