Altra Industrial Motion (AIMC) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Altra Industrial Motion (NASDAQ:AIMC) from a hold rating to a buy rating in a report published on Wednesday morning.

AIMC has been the subject of several other reports. Zacks Investment Research raised shares of Altra Industrial Motion from a hold rating to a buy rating and set a $52.00 price target for the company in a report on Friday, December 15th. ValuEngine lowered shares of Altra Industrial Motion from a buy rating to a hold rating in a report on Tuesday. BMO Capital Markets reaffirmed a buy rating and issued a $53.00 price target on shares of Altra Industrial Motion in a report on Wednesday, September 6th. Sidoti lowered 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 report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Robert W. Baird reissued a hold rating and set a $48.00 target price on shares of Altra Industrial Motion in a research note on Wednesday, October 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Altra Industrial Motion presently has an average rating of Hold and a consensus target price of $49.20.

Altra Industrial Motion (NASDAQ:AIMC) opened at $50.40 on Wednesday. Altra Industrial Motion has a fifty-two week low of $35.20 and a fifty-two week high of $50.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.69 and a quick ratio of 1.57. The company has a market cap of $1,470.00, a PE ratio of 35.74 and a beta of 1.66.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 18th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, December 15th. Altra Industrial Motion’s payout ratio is 48.23%.

In other news, Director Lipscomb S. Michael sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $48.34, for a total value of $1,208,500.00. Following the completion of the sale, the director now directly owns 15,848 shares of the company’s stock, valued at approximately $766,092.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the vice president now directly owns 71,201 shares of the company’s stock, valued at $3,560,050. The disclosure for this sale can be found here. Insiders have sold a total of 26,785 shares of company stock valued at $1,297,549 over the last three months. 3.20% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. California Public Employees Retirement System lifted its stake in shares of Altra Industrial Motion by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 54,442 shares of the industrial products company’s stock worth $2,619,000 after acquiring an additional 1,742 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Altra Industrial Motion in the 3rd quarter worth approximately $384,000. Earnest Partners LLC lifted its stake in shares of Altra Industrial Motion by 1.4% in the 3rd quarter. Earnest Partners LLC now owns 1,579,589 shares of the industrial products company’s stock worth $75,978,000 after acquiring an additional 21,044 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Altra Industrial Motion by 4.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 31,041 shares of the industrial products company’s stock worth $1,493,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Brown Advisory Inc. bought a new stake in shares of Altra Industrial Motion in the 3rd quarter worth approximately $355,000. 99.22% of the stock is owned by institutional investors.

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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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