Twinbeech Capital LP bought a new stake in Altra Industrial Motion Corp. (NASDAQ:AIMC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,914 shares of the industrial products company’s stock, valued at approximately $604,000.
Other hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd raised its holdings in shares of Altra Industrial Motion by 506.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,279 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 1,068 shares during the period. Meeder Asset Management Inc. grew its position in shares of Altra Industrial Motion by 1,038.6% during the 1st quarter. Meeder Asset Management Inc. now owns 1,890 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,724 shares in the last quarter. First Bank & Trust grew its position in shares of Altra Industrial Motion by 29.3% during the 1st quarter. First Bank & Trust now owns 3,143 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 712 shares in the last quarter. Meritage Portfolio Management acquired a new position in shares of Altra Industrial Motion during the 1st quarter worth approximately $202,000. Finally, XTX Topco Ltd bought a new stake in shares of Altra Industrial Motion during the 1st quarter worth approximately $229,000. 98.99% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on AIMC shares. TheStreet raised shares of Altra Industrial Motion from a “c” rating to a “b” rating in a report on Thursday, April 29th. Rosenblatt Securities raised their price target on shares of Altra Industrial Motion from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, May 4th. Zacks Investment Research raised shares of Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Monday, April 26th. BMO Capital Markets increased their price objective on shares of Altra Industrial Motion from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, May 3rd. Finally, Oppenheimer reiterated a “buy” rating and set a $72.00 price objective on shares of Altra Industrial Motion in a research report on Monday, June 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Altra Industrial Motion currently has an average rating of “Buy” and a consensus target price of $66.00.
Shares of NASDAQ AIMC opened at $63.80 on Thursday. The firm has a market capitalization of $4.13 billion, a PE ratio of 31.74, a P/E/G ratio of 1.28 and a beta of 2.54. The firm’s 50-day simple moving average is $64.37. Altra Industrial Motion Corp. has a 1 year low of $32.39 and a 1 year high of $68.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.20 and a quick ratio of 1.57.
Altra Industrial Motion (NASDAQ:AIMC) last released its quarterly earnings results on Wednesday, April 28th. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Altra Industrial Motion had a net margin of 7.39% and a return on equity of 10.46%. The company had revenue of $472.10 million for the quarter, compared to analyst estimates of $457.95 million. On average, research analysts forecast that Altra Industrial Motion Corp. will post 3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 2nd. Investors of record on Friday, June 18th were given a dividend of $0.08 per share. This is a positive change from Altra Industrial Motion’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Thursday, June 17th. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 11.11%.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. engages in the designs, production, and marketing of electromechanical power transmission motion control. It operates through the Power Transmission Technologies; and Automation and Specialty segments. The Power Transmission Technologies segment focuses in the production of couplings, clutches, and brakes; electromagnetic clutches and brakes; and gears.
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