Altra Industrial Motion Corp to Issue Quarterly Dividend of $0.04 (NASDAQ:AIMC)
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.
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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