Altra Industrial Motion (AIMC) Downgraded to “Hold” at ValuEngine
ValuEngine downgraded shares of Altra Industrial Motion (NASDAQ:AIMC) from a buy rating to a hold rating in a report released on Tuesday morning.
A number of other research firms have also recently issued reports on AIMC. Zacks Investment Research cut shares of Altra Industrial Motion from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a neutral rating on shares of Altra Industrial Motion in a research report on Monday, October 23rd. Sidoti cut shares of Altra Industrial Motion from a buy rating to a neutral rating and set a $53.00 price target on the stock. in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a buy rating and issued a $53.00 price target on shares of Altra Industrial Motion in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $49.20.
Altra Industrial Motion (AIMC) traded up $0.40 during mid-day trading on Tuesday, hitting $49.85. 90,801 shares of the stock were exchanged, compared to its average volume of 144,076. The company has a market cap of $1,447.67, a PE ratio of 35.35 and a beta of 1.66. The company has a quick ratio of 1.57, a current ratio of 2.69 and a debt-to-equity ratio of 0.77. Altra Industrial Motion has a one year low of $35.20 and a one year high of $50.00.
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, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $214.60 million for the quarter, compared to analysts’ expectations of $210.79 million. Altra Industrial Motion had a net margin of 4.92% and a return on equity of 16.30%. The business’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. research analysts forecast that Altra Industrial Motion will post 2.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Monday, December 18th will be given a $0.17 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.68 annualized dividend and a yield of 1.36%. Altra Industrial Motion’s payout ratio is 48.23%.
In related news, VP Craig Schuele sold 1,685 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $50.00, for a total value of $84,250.00. Following the transaction, the vice president now owns 71,201 shares of the company’s stock, valued at approximately $3,560,050. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lipscomb S. Michael sold 25,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $48.34, for a total transaction of $1,208,500.00. Following the completion of the sale, the director now owns 15,848 shares of the company’s stock, valued at approximately $766,092.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,785 shares of company stock worth $1,297,549. 3.20% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Altra Industrial Motion by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock valued at $88,739,000 after buying an additional 189,048 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Altra Industrial Motion by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,749,808 shares of the industrial products company’s stock worth $69,642,000 after purchasing an additional 23,428 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Altra Industrial Motion by 28.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock worth $75,984,000 after purchasing an additional 348,393 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Altra Industrial Motion by 1.4% during the 3rd quarter. Earnest Partners LLC now owns 1,579,589 shares of the industrial products company’s stock worth $75,978,000 after purchasing an additional 21,044 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Altra Industrial Motion by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,301,192 shares of the industrial products company’s stock worth $51,787,000 after purchasing an additional 17,428 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.
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Altra Industrial Motion Company Profile
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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