Analysts expect Altra Industrial Motion Corp (NASDAQ:AIMC) to post $225.89 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Altra Industrial Motion’s earnings, with the highest sales estimate coming in at $227.50 million and the lowest estimate coming in at $224.28 million. Altra Industrial Motion reported sales of $214.62 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The business is expected to announce its next earnings results before the market opens on Thursday, October 25th.
On average, analysts expect that Altra Industrial Motion will report full year sales of $1.20 billion for the current fiscal year. For the next year, analysts anticipate that the company will report sales of $2.02 billion, with estimates ranging from $2.02 billion to $2.03 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Altra Industrial Motion.
Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings data on Thursday, July 26th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.05. Altra Industrial Motion had a return on equity of 16.87% and a net margin of 5.87%. The firm had revenue of $237.32 million for the quarter, compared to analysts’ expectations of $239.02 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year.
A number of brokerages have recently issued reports on AIMC. BMO Capital Markets raised their price objective on Altra Industrial Motion from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. ValuEngine raised Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Robert W. Baird reissued a “buy” rating and issued a $52.00 target price on shares of Altra Industrial Motion in a research note on Friday, July 20th. BidaskClub cut Altra Industrial Motion from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Finally, Zacks Investment Research cut Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $52.00.
Shares of NASDAQ:AIMC traded up $0.10 on Wednesday, reaching $38.71. 2,728,382 shares of the company traded hands, compared to its average volume of 652,213. Altra Industrial Motion has a 52 week low of $37.80 and a 52 week high of $53.70. The stock has a market capitalization of $1.21 billion, a P/E ratio of 18.88 and a beta of 1.69. The company has a current ratio of 2.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Monday, September 17th were paid a $0.17 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.76%. Altra Industrial Motion’s payout ratio is presently 33.17%.
In related news, VP Todd Patriacca sold 3,300 shares of the firm’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $46.00, for a total value of $151,800.00. Following the sale, the vice president now directly owns 22,590 shares of the company’s stock, valued at $1,039,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Wasatch Advisors Inc. boosted its position in Altra Industrial Motion by 7.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,293,303 shares of the industrial products company’s stock valued at $98,841,000 after acquiring an additional 159,453 shares in the last quarter. BlackRock Inc. boosted its position in Altra Industrial Motion by 8.3% during the 2nd quarter. BlackRock Inc. now owns 2,003,997 shares of the industrial products company’s stock valued at $86,373,000 after acquiring an additional 153,453 shares in the last quarter. Earnest Partners LLC boosted its position in Altra Industrial Motion by 0.6% during the 2nd quarter. Earnest Partners LLC now owns 1,951,449 shares of the industrial products company’s stock valued at $84,107,000 after acquiring an additional 11,332 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Altra Industrial Motion by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,322,902 shares of the industrial products company’s stock valued at $57,017,000 after acquiring an additional 22,852 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in Altra Industrial Motion by 0.3% during the 2nd quarter. Macquarie Group Ltd. now owns 1,181,579 shares of the industrial products company’s stock valued at $50,926,000 after acquiring an additional 3,023 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.
About Altra Industrial Motion
Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.
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