Public Employees Retirement Association of Colorado Buys Shares of 461,383 Altra Industrial Motion Corp (NASDAQ:AIMC)
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.
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.
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