StockNews.com lowered shares of Altra Industrial Motion (NASDAQ:AIMC – Get Rating) from a strong-buy rating to a buy rating in a report published on Wednesday morning.

Several other research analysts have also recently weighed in on the stock. Loop Capital assumed coverage on shares of Altra Industrial Motion in a research report on Thursday, August 25th. They issued a buy rating and a $58.00 price objective on the stock. BMO Capital Markets upped their price objective on shares of Altra Industrial Motion from $45.00 to $50.00 in a research report on Friday, August 12th. Finally, Robert W. Baird upped their price objective on shares of Altra Industrial Motion from $44.00 to $48.00 in a research report on Friday, July 29th.

Altra Industrial Motion Trading Down 2.1 %

Shares of Altra Industrial Motion stock opened at $33.70 on Wednesday. Altra Industrial Motion has a 12-month low of $32.18 and a 12-month high of $62.25. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 120.36, a PEG ratio of 0.70 and a beta of 2.07. The company has a current ratio of 2.32, a quick ratio of 1.45 and a debt-to-equity ratio of 0.55. The company's 50-day moving average price is $39.25 and its 200-day moving average price is $38.05.

Altra Industrial Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Friday, September 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, September 15th. Altra Industrial Motion's payout ratio is currently 128.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors Inc. grew its position in Altra Industrial Motion by 9.0% during the fourth quarter. Wasatch Advisors Inc. now owns 6,663,776 shares of the industrial products company's stock valued at $343,651,000 after acquiring an additional 550,635 shares during the last quarter. Vanguard Group Inc. grew its position in Altra Industrial Motion by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,982,034 shares of the industrial products company's stock valued at $232,880,000 after acquiring an additional 67,144 shares during the last quarter. Boston Partners grew its position in Altra Industrial Motion by 3.7% during the first quarter. Boston Partners now owns 3,463,937 shares of the industrial products company's stock valued at $134,661,000 after acquiring an additional 123,852 shares during the last quarter. Earnest Partners LLC grew its position in Altra Industrial Motion by 26.8% during the first quarter. Earnest Partners LLC now owns 3,434,437 shares of the industrial products company's stock valued at $133,703,000 after acquiring an additional 726,188 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Altra Industrial Motion by 2.1% during the first quarter. JPMorgan Chase & Co. now owns 2,487,552 shares of the industrial products company's stock valued at $96,841,000 after acquiring an additional 50,003 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors.

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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