Wasatch Advisors Inc. lifted its holdings in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) by 185.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 977,955 shares of the industrial products company’s stock after purchasing an additional 635,446 shares during the quarter. Wasatch Advisors Inc. owned 3.34% of Altra Industrial Motion worth $47,040,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AIMC. Vanguard Group Inc. grew its stake in shares of Altra Industrial Motion by 9.3% in the second quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock worth $88,739,000 after acquiring an additional 189,048 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Altra Industrial Motion by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,749,808 shares of the industrial products company’s stock valued at $69,642,000 after purchasing an additional 23,428 shares during the period. Victory Capital Management Inc. raised its stake in Altra Industrial Motion by 28.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock valued at $75,984,000 after purchasing an additional 348,393 shares during the period. Earnest Partners LLC raised its stake in Altra Industrial Motion by 0.7% during the 2nd quarter. Earnest Partners LLC now owns 1,558,545 shares of the industrial products company’s stock valued at $62,030,000 after purchasing an additional 11,531 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Altra Industrial Motion by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,301,192 shares of the industrial products company’s stock worth $51,787,000 after acquiring an additional 17,428 shares during the last quarter. 99.25% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. ValuEngine downgraded Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Sidoti cut Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a report on Wednesday, October 4th. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “hold” rating and set a $48.00 target price on shares of Altra Industrial Motion in a research report on Wednesday, October 4th. Zacks Investment Research lowered Altra Industrial Motion from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $53.00 target price on shares of Altra Industrial Motion in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.20.
Shares of Altra Industrial Motion Corp (AIMC) traded up $0.25 during trading on Thursday, hitting $48.10. The company’s stock had a trading volume of 118,215 shares, compared to its average volume of 144,384. Altra Industrial Motion Corp has a fifty-two week low of $34.80 and a fifty-two week high of $50.00. The firm has a market capitalization of $1,392.04, a PE ratio of 23.89 and a beta of 1.66. The company has a quick ratio of 1.57, a current ratio of 2.69 and a debt-to-equity ratio of 0.77.
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 consensus estimate of $0.46 by $0.02. Altra Industrial Motion 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 quarter last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. equities analysts forecast that Altra Industrial Motion Corp will post 2.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Monday, December 18th will be given a $0.17 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.68 annualized dividend and a yield of 1.41%. Altra Industrial Motion’s payout ratio is 48.23%.
In related news, VP Craig Schuele sold 1,685 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $50.00, for a total value of $84,250.00. Following the transaction, the vice president now owns 71,201 shares in the company, valued at approximately $3,560,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lipscomb S. Michael sold 25,000 shares of Altra Industrial Motion 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 in the company, valued at approximately $766,092.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,709 shares of company stock valued at $2,233,977. 3.20% of the stock is currently owned by company insiders.
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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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