Altra Industrial Motion Corp (NASDAQ:AIMC) declared a quarterly dividend on Thursday, July 23rd, Wall Street Journal reports. Shareholders of record on Friday, September 18th will be given a dividend of 0.04 per share by the industrial products company on Friday, October 2nd. This represents a $0.16 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, September 17th.

Altra Industrial Motion has raised its dividend payment by 13.3% over the last three years and has increased its dividend every year for the last 1 years. Altra Industrial Motion has a payout ratio of 7.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Altra Industrial Motion to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 5.9%.

AIMC stock opened at $40.06 on Wednesday. The company has a market capitalization of $2.56 billion, a PE ratio of -81.76, a price-to-earnings-growth ratio of 1.20 and a beta of 2.61. Altra Industrial Motion has a one year low of $12.00 and a one year high of $43.17. The company’s 50 day moving average price is $38.61 and its two-hundred day moving average price is $29.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.56 and a current ratio of 2.27.

Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.34 by $0.26. Altra Industrial Motion had a negative net margin of 1.85% and a positive return on equity of 9.13%. The firm had revenue of $400.80 million for the quarter, compared to the consensus estimate of $367.98 million. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue was down 14.1% compared to the same quarter last year. On average, research analysts predict that Altra Industrial Motion will post 2.21 EPS for the current year.

Several brokerages recently commented on AIMC. ValuEngine raised shares of Altra Industrial Motion from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st. TheStreet raised shares of Altra Industrial Motion from a “d+” rating to a “c-” rating in a research note on Friday, June 12th. BMO Capital Markets lifted their target price on shares of Altra Industrial Motion from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Oppenheimer lifted their target price on shares of Altra Industrial Motion from $36.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Finally, Rosenblatt Securities reiterated a “hold” rating on shares of Altra Industrial Motion in a report on Wednesday, July 29th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $37.57.

In other news, Director Lyle G. Ganske sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $42.00, for a total transaction of $210,000.00. Following the sale, the director now owns 22,875 shares in the company, valued at approximately $960,750. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James H. Woodward, Jr. sold 3,527 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $35.98, for a total transaction of $126,901.46. Following the sale, the director now owns 15,410 shares in the company, valued at approximately $554,451.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,287 shares of company stock worth $491,400. 1.20% of the stock is currently owned by company insiders.

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.

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Dividend History for Altra Industrial Motion (NASDAQ:AIMC)

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