Redmond Asset Management LLC acquired a new position in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) in the second quarter, HoldingsChannel reports. The fund acquired 34,537 shares of the industrial products company’s stock, valued at approximately $1,239,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Altra Industrial Motion during the 2nd quarter worth $89,000. Advisor Group Inc. acquired a new stake in shares of Altra Industrial Motion during the 2nd quarter worth $127,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Altra Industrial Motion during the 2nd quarter worth $130,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Altra Industrial Motion during the 2nd quarter worth $205,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Altra Industrial Motion during the 2nd quarter worth $316,000.

NASDAQ:AIMC traded down $0.13 on Thursday, reaching $24.16. The stock had a trading volume of 8,395 shares, compared to its average volume of 643,639. 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’s 50-day moving average price is $31.15. The company has a market cap of $1.59 billion, a PE ratio of 8.45 and a beta of 1.94. Altra Industrial Motion Corp has a 12-month low of $23.52 and a 12-month high of $44.05.

Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.08). The firm had revenue of $466.50 million during the quarter, compared to analysts’ expectations of $488.01 million. Altra Industrial Motion had a net margin of 4.34% and a return on equity of 10.50%. The business’s quarterly revenue was up 96.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, equities analysts predict that Altra Industrial Motion Corp will post 2.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.68 dividend on an annualized basis and a yield of 2.81%. Altra Industrial Motion’s payout ratio is currently 23.78%.

In other news, Director Larry Mcpherson sold 9,922 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $25.40, for a total transaction of $252,018.80. Following the transaction, the director now owns 9,608 shares of the company’s stock, valued at $244,043.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

AIMC has been the subject of a number of research analyst reports. ValuEngine downgraded Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th. Zacks Investment Research upgraded Altra Industrial Motion from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 23rd. KeyCorp lowered their price target on Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 26th. BidaskClub downgraded Altra Industrial Motion from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird set a $46.00 price target on Altra Industrial Motion and gave the company a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $47.20.

About Altra Industrial Motion

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.

Featured Article: How is the discount rate different from the Federal Funds rate?

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.