Engineers Gate Manager LP purchased a new stake in Altra Industrial Motion Corp. (NASDAQ:AIMC – Get Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 88,216 shares of the industrial products company's stock, valued at approximately $3,434,000. Engineers Gate Manager LP owned approximately 0.14% of Altra Industrial Motion as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in shares of Altra Industrial Motion in the 4th quarter valued at about $49,000. Meeder Asset Management Inc. acquired a new stake in Altra Industrial Motion in the 1st quarter valued at about $54,000. Quent Capital LLC acquired a new stake in Altra Industrial Motion in the 1st quarter valued at about $68,000. Pinebridge Investments L.P. acquired a new stake in Altra Industrial Motion in the 4th quarter valued at about $93,000. Finally, Associated Banc Corp acquired a new stake in Altra Industrial Motion in the 4th quarter valued at about $205,000. Hedge funds and other institutional investors own 98.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AIMC shares. StockNews.com raised shares of Altra Industrial Motion from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, August 17th. Loop Capital started coverage on shares of Altra Industrial Motion in a research note on Thursday, August 25th. They issued a "buy" rating and a $58.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Altra Industrial Motion from $44.00 to $48.00 in a research note on Friday, July 29th. Finally, BMO Capital Markets increased their price objective on shares of Altra Industrial Motion from $45.00 to $50.00 in a research note on Friday, August 12th.

Altra Industrial Motion Price Performance

Altra Industrial Motion (NASDAQ:AIMC – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. Altra Industrial Motion had a net margin of 0.96% and a return on equity of 10.51%. The company had revenue of $498.10 million for the quarter, compared to analysts' expectations of $475.71 million. During the same period last year, the company earned $0.89 EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Altra Industrial Motion Corp. will post 3.29 earnings per share for the current year.

Altra Industrial Motion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. Altra Industrial Motion's dividend payout ratio is currently 128.57%.

About Altra Industrial Motion

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

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