Altra Industrial Motion Corp. (AIMC) Stake Lowered by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC cut its holdings in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 19.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040,277 shares of the industrial products company’s stock after selling 243,735 shares during the quarter. Frontier Capital Management Co. LLC owned 3.55% of Altra Industrial Motion Corp. worth $50,037,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Altra Industrial Motion Corp. by 9.3% in the second quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock valued at $88,739,000 after buying an additional 189,048 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Altra Industrial Motion Corp. by 1.4% in the second quarter. JPMorgan Chase & Co. now owns 1,749,808 shares of the industrial products company’s stock valued at $69,642,000 after buying an additional 23,428 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Altra Industrial Motion Corp. by 28.3% in the third quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock valued at $75,984,000 after buying an additional 348,393 shares in the last quarter. Earnest Partners LLC increased its position in shares of Altra Industrial Motion Corp. by 0.7% in the second quarter. Earnest Partners LLC now owns 1,558,545 shares of the industrial products company’s stock valued at $62,030,000 after buying an additional 11,531 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Altra Industrial Motion Corp. by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,301,192 shares of the industrial products company’s stock valued at $51,787,000 after buying an additional 17,428 shares in the last quarter. Institutional investors and hedge funds own 98.56% of the company’s stock.

In related news, Chairman Carl R. Christenson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $46.00, for a total transaction of $460,000.00. Following the completion of the sale, the chairman now directly owns 98,805 shares in the company, valued at $4,545,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Glenn E. Deegan sold 1,825 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $43.37, for a total value of $79,150.25. Following the completion of the sale, the vice president now owns 41,419 shares of the company’s stock, valued at $1,796,342.03. The disclosure for this sale can be found here. Insiders have sold 80,889 shares of company stock valued at $3,778,957 over the last quarter. 3.20% of the stock is owned by company insiders.

Shares of Altra Industrial Motion Corp. (AIMC) opened at $47.75 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.57 and a current ratio of 2.69. Altra Industrial Motion Corp. has a 12-month low of $28.90 and a 12-month high of $50.00. The company has a market capitalization of $1,397.88, a P/E ratio of 23.99 and a beta of 1.67.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its quarterly earnings results on Friday, October 20th. The industrial products company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Altra Industrial Motion Corp. had a return on equity of 16.30% and a net margin of 4.92%. The firm had revenue of $214.60 million during the quarter, compared to analysts’ expectations of $210.79 million. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. analysts predict that Altra Industrial Motion Corp. will post 2.05 EPS for the current fiscal year.

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 given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, December 15th. Altra Industrial Motion Corp.’s payout ratio is 48.23%.

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AIMC has been the subject of a number of recent analyst reports. ValuEngine cut Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research cut Altra Industrial Motion Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird restated a “neutral” rating on shares of Altra Industrial Motion Corp. in a research report on Monday, October 23rd. BMO Capital Markets restated a “buy” rating and issued a $53.00 price objective on shares of Altra Industrial Motion Corp. in a research report on Thursday, July 27th. Finally, Sidoti cut Altra Industrial Motion Corp. from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Wednesday, October 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Altra Industrial Motion Corp. presently has an average rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for Altra Industrial Motion Corp. (NASDAQ:AIMC)

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