US Bancorp DE cut its stake in Altra Industrial Motion Corp. (NASDAQ:AIMC – Get Rating) by 38.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,477 shares of the industrial products company's stock after selling 16,278 shares during the period. US Bancorp DE's holdings in Altra Industrial Motion were worth $1,031,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Systematic Financial Management LP boosted its holdings in Altra Industrial Motion by 4.1% in the first quarter. Systematic Financial Management LP now owns 421,737 shares of the industrial products company's stock valued at $16,418,000 after purchasing an additional 16,765 shares during the period. Raymond James & Associates raised its stake in Altra Industrial Motion by 4.3% in the first quarter. Raymond James & Associates now owns 297,462 shares of the industrial products company's stock valued at $11,580,000 after buying an additional 12,239 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Altra Industrial Motion by 2.1% in 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 buying an additional 50,003 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Altra Industrial Motion in the first quarter valued at $577,000. Finally, Wrapmanager Inc. raised its stake in Altra Industrial Motion by 26.8% in the first quarter. Wrapmanager Inc. now owns 9,002 shares of the industrial products company's stock valued at $350,000 after buying an additional 1,903 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.
Get Altra Industrial Motion alerts:Analysts Set New Price Targets
A number of analysts have weighed in on AIMC shares. BMO Capital Markets raised their price target on Altra Industrial Motion from $45.00 to $50.00 in a research note on Friday, August 12th. Robert W. Baird raised their price target on Altra Industrial Motion from $44.00 to $48.00 in a research note on Friday, July 29th. StockNews.com upgraded Altra Industrial Motion from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, August 17th. Finally, Loop Capital assumed coverage on Altra Industrial Motion in a research report on Thursday, August 25th. They set a "buy" rating and a $58.00 target price on the stock.
Altra Industrial Motion Stock Performance
Shares of AIMC stock opened at $38.27 on Wednesday. The stock has a market capitalization of $2.49 billion, a PE ratio of 132.54, a price-to-earnings-growth ratio of 0.75 and a beta of 2.07. Altra Industrial Motion Corp. has a 52-week low of $32.18 and a 52-week high of $62.25. The stock's 50-day moving average price is $38.59 and its 200 day moving average price is $38.80. The company has a quick ratio of 1.45, a current ratio of 2.32 and a debt-to-equity ratio of 0.55.Altra Industrial Motion (NASDAQ:AIMC – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The industrial products company reported $0.84 earnings per share for the quarter, meeting analysts' consensus estimates of $0.84. Altra Industrial Motion had a return on equity of 10.51% and a net margin of 0.96%. The company had revenue of $498.10 million for the quarter, compared to analyst estimates of $475.71 million. During the same quarter in the previous 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. As a group, equities research analysts forecast that Altra Industrial Motion Corp. will post 3.3 EPS 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. Stockholders of record on Friday, September 16th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, September 15th. Altra Industrial Motion's dividend payout ratio (DPR) is 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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