New York State Common Retirement Fund Grows Stake in Altra Industrial Motion Corp. (NASDAQ:AIMC)

New York State Common Retirement Fund boosted its position in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 672,154 shares of the industrial products company’s stock after purchasing an additional 16,490 shares during the period. New York State Common Retirement Fund’s holdings in Altra Industrial Motion were worth $37,184,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CI Investments Inc. purchased a new position in Altra Industrial Motion during the fourth quarter worth $26,000. Alpha Paradigm Partners LLC purchased a new position in Altra Industrial Motion during the fourth quarter worth $46,000. Harvest Fund Management Co. Ltd purchased a new position in Altra Industrial Motion during the fourth quarter worth $76,000. Meeder Asset Management Inc. increased its position in Altra Industrial Motion by 1,038.6% during the first quarter. Meeder Asset Management Inc. now owns 1,890 shares of the industrial products company’s stock worth $105,000 after buying an additional 1,724 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Altra Industrial Motion by 62.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,600 shares of the industrial products company’s stock worth $144,000 after buying an additional 1,000 shares in the last quarter. 99.57% of the stock is owned by institutional investors.

In other Altra Industrial Motion news, VP Glenn E. Deegan sold 1,092 shares of the business’s stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $67.71, for a total transaction of $73,939.32. Following the transaction, the vice president now owns 37,608 shares in the company, valued at $2,546,437.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Carl R. Christenson sold 20,000 shares of the business’s stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $67.00, for a total value of $1,340,000.00. Following the transaction, the chief executive officer now owns 90,946 shares in the company, valued at approximately $6,093,382. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,892 shares of company stock worth $2,122,907. 0.90% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on AIMC shares. Zacks Investment Research upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Monday, April 26th. Robert W. Baird restated a “buy” rating on shares of Altra Industrial Motion in a report on Sunday, March 14th. BMO Capital Markets raised their price objective on Altra Industrial Motion from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, May 3rd. Rosenblatt Securities raised their price objective on Altra Industrial Motion from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, May 4th. Finally, TheStreet upgraded Altra Industrial Motion from a “c” rating to a “b” rating in a report on Thursday, April 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $64.00.

Shares of Altra Industrial Motion stock opened at $64.79 on Friday. Altra Industrial Motion Corp. has a twelve month low of $28.06 and a twelve month high of $68.07. The firm has a market capitalization of $4.20 billion, a PE ratio of 32.23, a P/E/G ratio of 1.35 and a beta of 2.55. The company has a quick ratio of 1.57, a current ratio of 2.20 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average price of $63.56.

Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Wednesday, April 28th. The industrial products company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.10. Altra Industrial Motion had a return on equity of 10.46% and a net margin of 7.39%. The firm had revenue of $472.10 million for the quarter, compared to analysts’ expectations of $457.95 million. As a group, analysts predict that Altra Industrial Motion Corp. will post 3.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Friday, June 18th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Thursday, June 17th. This is a boost from Altra Industrial Motion’s previous quarterly dividend of $0.06. Altra Industrial Motion’s payout ratio is currently 8.33%.

About Altra Industrial Motion

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in various motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).

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Institutional Ownership by Quarter for Altra Industrial Motion (NASDAQ:AIMC)

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