Equities analysts expect Altra Industrial Motion Corp. (NASDAQ:AIMC) to announce $217.91 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Altra Industrial Motion’s earnings. The lowest sales estimate is $216.01 million and the highest is $219.80 million. Altra Industrial Motion posted sales of $172.65 million in the same quarter last year, which would indicate a positive year over year growth rate of 26.2%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 26th.
On average, analysts expect that Altra Industrial Motion will report full-year sales of $217.91 million for the current financial year, with estimates ranging from $869.42 million to $873.20 million. For the next financial year, analysts expect that the firm will report sales of $909.23 million per share, with estimates ranging from $906.35 million to $912.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Altra Industrial Motion.
Altra Industrial Motion (NASDAQ:AIMC) last released its quarterly earnings data on Friday, October 20th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $214.60 million during the quarter, compared to analyst estimates of $210.79 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year.
Several brokerages have weighed in on AIMC. ValuEngine downgraded Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded Altra Industrial Motion from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BMO Capital Markets reaffirmed a “buy” rating and set a $53.00 target price on shares of Altra Industrial Motion in a research note on Wednesday, September 6th. Robert W. Baird reaffirmed a “neutral” rating on shares of Altra Industrial Motion in a research note on Monday, October 23rd. Finally, Sidoti downgraded Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 target price on the stock. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $49.20.
Altra Industrial Motion (NASDAQ:AIMC) opened at $48.35 on Tuesday. Altra Industrial Motion has a 12-month low of $34.80 and a 12-month high of $50.00. The stock has a market capitalization of $1,408.15, a P/E ratio of 24.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.57 and a current ratio of 2.69.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 18th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, December 15th. Altra Industrial Motion’s dividend payout ratio is presently 48.23%.
In other news, VP Craig Schuele sold 1,685 shares of the business’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $50.00, for a total value of $84,250.00. Following the sale, the vice president now owns 71,201 shares of the company’s stock, valued at approximately $3,560,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lipscomb S. Michael sold 25,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was 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. Insiders sold a total of 46,709 shares of company stock worth $2,233,977 in the last three months. Company insiders own 3.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC grew its holdings in shares of Altra Industrial Motion by 8.5% in the 1st quarter. Teachers Advisors LLC now owns 44,140 shares of the industrial products company’s stock worth $1,719,000 after acquiring an additional 3,444 shares during the last quarter. State Street Corp grew its holdings in shares of Altra Industrial Motion by 14.2% in the 1st quarter. State Street Corp now owns 530,226 shares of the industrial products company’s stock worth $20,652,000 after acquiring an additional 66,001 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Altra Industrial Motion by 17.7% in the 2nd quarter. Aperio Group LLC now owns 7,473 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 1,122 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Altra Industrial Motion by 191.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock worth $176,000 after acquiring an additional 2,926 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Altra Industrial Motion by 3.0% in the 2nd quarter. Sei Investments Co. now owns 23,737 shares of the industrial products company’s stock worth $945,000 after acquiring an additional 700 shares during the last quarter. 99.25% of the stock is currently owned by institutional investors.
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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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