Public Employees Retirement Association of Colorado bought a new stake in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 461,383 shares of the industrial products company’s stock, valued at approximately $16,554,000. Public Employees Retirement Association of Colorado owned approximately 0.72% of Altra Industrial Motion as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rothschild & Co. Asset Management US Inc. bought a new position in shares of Altra Industrial Motion in the 2nd quarter worth $34,320,000. Systematic Financial Management LP bought a new position in shares of Altra Industrial Motion in the 2nd quarter worth $17,662,000. BNP Paribas Arbitrage SA bought a new position in shares of Altra Industrial Motion in the 2nd quarter worth $1,765,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Altra Industrial Motion in the 2nd quarter worth $1,445,000. Finally, First Trust Advisors LP raised its position in shares of Altra Industrial Motion by 126.3% in the 2nd quarter. First Trust Advisors LP now owns 31,594 shares of the industrial products company’s stock worth $1,134,000 after acquiring an additional 17,632 shares in the last quarter.

In related news, Director Larry Mcpherson sold 9,922 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $25.40, for a total transaction of $252,018.80. Following the transaction, the director now directly owns 9,608 shares in the company, valued at approximately $244,043.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Shares of AIMC stock opened at $24.29 on Thursday. Altra Industrial Motion Corp has a 1-year low of $23.52 and a 1-year high of $44.05. The stock’s fifty day simple moving average is $31.15. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.59 billion, a P/E ratio of 8.49 and a beta of 1.94.

Altra Industrial Motion (NASDAQ:AIMC) last announced its earnings results on Thursday, July 25th. The industrial products company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). Altra Industrial Motion had a return on equity of 10.50% and a net margin of 4.34%. The business had revenue of $466.50 million for the quarter, compared to analysts’ expectations of $488.01 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 96.6% compared to the same quarter last year. Sell-side analysts predict that Altra Industrial Motion Corp will post 2.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.68 annualized dividend and a yield of 2.80%. Altra Industrial Motion’s dividend payout ratio (DPR) is 23.78%.

Several research analysts have recently commented on AIMC shares. ValuEngine lowered Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research report on Friday, July 26th. KeyCorp reduced their price target on Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Robert W. Baird set a $46.00 price target on Altra Industrial Motion and gave the stock a “buy” rating in a research report on Friday, July 26th. TheStreet lowered Altra Industrial Motion from a “b-” rating to a “c+” rating in a research report on Monday. Finally, BidaskClub lowered Altra Industrial Motion from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Altra Industrial Motion currently has a consensus rating of “Hold” and a consensus price target of $47.20.

Altra Industrial Motion Profile

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.

Recommended Story: What does an outperform rating mean?

Want to see what other hedge funds are holding AIMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altra Industrial Motion Corp (NASDAQ:AIMC).

Institutional Ownership by Quarter for Altra Industrial Motion (NASDAQ:AIMC)

Receive News & Ratings for Altra Industrial Motion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altra Industrial Motion and related companies with MarketBeat.com's FREE daily email newsletter.