Altra Industrial Motion (NASDAQ:AIMC) Shares Up 6.4%

Altra Industrial Motion Corp (NASDAQ:AIMC)’s stock price shot up 6.4% during trading on Wednesday . The stock traded as high as $29.44 and last traded at $29.42, 524,370 shares changed hands during trading. An increase of 4% from the average session volume of 503,192 shares. The stock had previously closed at $27.65.

A number of analysts recently weighed in on AIMC shares. 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. BidaskClub upgraded Altra Industrial Motion from a “sell” rating to a “hold” rating in a research report on Saturday, August 31st. ValuEngine lowered Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research report on Friday, July 26th. TheStreet cut Altra Industrial Motion from a “b-” rating to a “c+” rating in a research note on Monday, August 12th. Finally, KeyCorp reduced their price target on Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $46.25.

The stock has a market capitalization of $1.77 billion, a PE ratio of 10.29 and a beta of 1.96. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.89. The stock’s 50 day moving average price is $26.10 and its 200-day moving average price is $31.82.

Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.08). The company had revenue of $466.50 million during the quarter, compared to the consensus estimate of $488.01 million. Altra Industrial Motion had a return on equity of 10.50% and a net margin of 4.34%. The company’s revenue for the quarter was up 96.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, sell-side analysts predict that Altra Industrial Motion Corp will post 2.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.31%. Altra Industrial Motion’s payout ratio is 23.78%.

In related news, Director Larry Mcpherson sold 9,922 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $25.40, for a total value of $252,018.80. Following the transaction, the director now owns 9,608 shares of the company’s stock, valued at $244,043.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new stake in shares of Altra Industrial Motion in the 2nd quarter worth $31,000. Public Employees Retirement System of Ohio purchased a new position in shares of Altra Industrial Motion during the second quarter valued at $59,000. Panagora Asset Management Inc. purchased a new position in shares of Altra Industrial Motion during the second quarter valued at $67,000. Strs Ohio bought a new stake in shares of Altra Industrial Motion in the second quarter valued at about $89,000. Finally, Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Altra Industrial Motion in the second quarter valued at about $106,000.

Altra Industrial Motion Company Profile (NASDAQ:AIMC)

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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