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.
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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 (NASDAQ:AIMC – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.84. Altra Industrial Motion had a net
margin of 0.96% and a return on equity of 10.51%. The firm had revenue of $498.10 million for the quarter, compared to the consensus estimate of $475.71 million. During the same period in the prior year, the firm posted $0.89 earnings per share. The company's revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts expect that Altra Industrial Motion will post 3.29 earnings per share for the current fiscal year.
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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