Altra Industrial Motion (AIMC) Sets New 52-Week High at $50.25

Altra Industrial Motion Corp (NASDAQ:AIMC)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $50.25 and last traded at $49.85, with a volume of 90800 shares trading hands. The stock had previously closed at $49.45.

Several brokerages recently commented on AIMC. Zacks Investment Research raised shares of Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Friday, December 15th. ValuEngine downgraded shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets reaffirmed a “buy” rating and set a $53.00 price target on shares of Altra Industrial Motion in a research note on Wednesday, September 6th. Sidoti downgraded shares of Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price target for the company. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price target on shares of Altra Industrial Motion in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Altra Industrial Motion presently has a consensus rating of “Hold” and an average price target of $49.20.

The stock has a market cap of $1,470.00, a P/E ratio of 35.35 and a beta of 1.66. The company has a current ratio of 2.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.77.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 18th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, December 15th. Altra Industrial Motion’s payout ratio is currently 48.23%.

In related news, Director Lipscomb S. Michael sold 25,000 shares of Altra Industrial Motion stock in a transaction on Friday, October 27th. The shares were sold at an average price of $48.34, for a total transaction of $1,208,500.00. Following the completion of the transaction, the director now owns 15,848 shares of the company’s stock, valued at $766,092.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Craig Schuele sold 1,685 shares of Altra Industrial Motion stock in a transaction 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 transaction, the vice president now directly owns 71,201 shares of the company’s stock, valued at approximately $3,560,050. The disclosure for this sale can be found here. Insiders have sold 26,785 shares of company stock valued at $1,297,549 in the last ninety days. Insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC grew its holdings in Altra Industrial Motion by 17.7% in the second quarter. Aperio Group LLC now owns 7,473 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 1,122 shares during the period. Great West Life Assurance Co. Can grew its holdings in Altra Industrial Motion by 191.6% in the second quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 2,926 shares during the period. Sei Investments Co. grew its holdings in Altra Industrial Motion by 3.0% in the second quarter. Sei Investments Co. now owns 23,737 shares of the industrial products company’s stock worth $945,000 after purchasing an additional 700 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Altra Industrial Motion by 15.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 169,644 shares of the industrial products company’s stock worth $6,752,000 after purchasing an additional 22,833 shares during the period. Finally, Rhumbline Advisers grew its holdings in Altra Industrial Motion by 6.9% in the second quarter. Rhumbline Advisers now owns 35,857 shares of the industrial products company’s stock worth $1,427,000 after purchasing an additional 2,328 shares during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

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About Altra Industrial Motion

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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