Altra Industrial Motion Corp (NASDAQ:AIMC) Chairman Carl R. Christenson acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The shares were bought at an average price of $31.44 per share, with a total value of $157,200.00. Following the transaction, the chairman now owns 96,697 shares in the company, valued at approximately $3,040,153.68. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Altra Industrial Motion stock opened at $33.77 on Wednesday. The stock has a market cap of $988.61 million, a P/E ratio of 16.47 and a beta of 1.80. Altra Industrial Motion Corp has a 52 week low of $30.82 and a 52 week high of $53.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.58 and a quick ratio of 1.50.
Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $228.48 million during the quarter, compared to analysts’ expectations of $225.89 million. Altra Industrial Motion had a return on equity of 17.82% and a net margin of 5.68%. As a group, sell-side analysts forecast that Altra Industrial Motion Corp will post 2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Monday, December 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, December 14th. Altra Industrial Motion’s dividend payout ratio (DPR) is 33.17%.
AIMC has been the subject of a number of recent research reports. ValuEngine cut Altra Industrial Motion from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Zacks Investment Research upgraded Altra Industrial Motion from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, October 3rd. BidaskClub upgraded Altra Industrial Motion from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 18th. BMO Capital Markets dropped their price objective on Altra Industrial Motion from $59.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, August 30th. Finally, Sidoti upgraded Altra Industrial Motion from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Thursday, August 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Altra Industrial Motion has an average rating of “Buy” and an average price target of $50.40.
A number of institutional investors and hedge funds have recently bought and sold shares of AIMC. WealthTrust Fairport LLC grew its holdings in Altra Industrial Motion by 131.4% in the 2nd quarter. WealthTrust Fairport LLC now owns 3,934 shares of the industrial products company’s stock valued at $170,000 after buying an additional 2,234 shares during the period. Tower Research Capital LLC TRC grew its holdings in Altra Industrial Motion by 316.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,094 shares of the industrial products company’s stock valued at $176,000 after buying an additional 3,111 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in Altra Industrial Motion in the 2nd quarter valued at about $218,000. Xact Kapitalforvaltning AB grew its holdings in Altra Industrial Motion by 33.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the industrial products company’s stock valued at $254,000 after buying an additional 1,400 shares during the period. Finally, UBS Group AG grew its holdings in Altra Industrial Motion by 138.7% in the 1st quarter. UBS Group AG now owns 6,589 shares of the industrial products company’s stock valued at $303,000 after buying an additional 3,829 shares during the period.
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Altra Industrial Motion Company Profile
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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