Altra Industrial Motion (NASDAQ:AIMC) Downgraded to C+ at TheStreet

TheStreet downgraded shares of Altra Industrial Motion (NASDAQ:AIMC) from a b- rating to a c+ rating in a report released on Monday morning, TheStreetRatingsTable reports.

AIMC has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Altra Industrial Motion from a strong sell rating to a hold rating in a report on Tuesday, April 23rd. BidaskClub cut shares of Altra Industrial Motion from a hold rating to a sell rating in a report on Wednesday, August 7th. ValuEngine cut shares of Altra Industrial Motion from a sell rating to a strong sell rating in a report on Friday, July 26th. KeyCorp cut their price target on shares of Altra Industrial Motion from $49.00 to $45.00 and set an overweight rating on the stock in a report on Friday, July 26th. Finally, Robert W. Baird set a $46.00 price target on shares of Altra Industrial Motion and gave the stock a buy rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Altra Industrial Motion currently has an average rating of Hold and an average price target of $47.20.

NASDAQ AIMC opened at $23.98 on Monday. The company’s 50-day moving average price is $30.92 and its 200-day moving average price is $32.62. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.59 billion, a PE ratio of 8.38 and a beta of 1.94. Altra Industrial Motion has a 12 month low of $23.52 and a 12 month high of $44.05.

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 forecast that Altra Industrial Motion will post 2.92 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, September 17th. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 23.78%.

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

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in Altra Industrial Motion in the second quarter worth about $31,000. Public Employees Retirement System of Ohio purchased a new stake in Altra Industrial Motion in the second quarter worth about $59,000. Panagora Asset Management Inc. purchased a new stake in Altra Industrial Motion in the second quarter worth about $67,000. Strs Ohio purchased a new stake in Altra Industrial Motion in the second quarter worth about $89,000. Finally, Advisor Group Inc. purchased a new stake in Altra Industrial Motion in the second quarter worth about $127,000.

About Altra Industrial Motion

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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