Altra Industrial Motion Corp. (NASDAQ:AIMC – Get Rating) – Equities researchers at Oppenheimer decreased their Q4 2022 earnings per share estimates for shares of Altra Industrial Motion in a report released on Thursday, September 8th. Oppenheimer analyst B. Blair now expects that the industrial products company will earn $0.78 per share for the quarter, down from their previous forecast of $0.79. The consensus estimate for Altra Industrial Motion's current full-year earnings is $3.30 per share.
Get Altra Industrial Motion alerts:Altra Industrial Motion (NASDAQ:AIMC – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The industrial products company reported $0.84 EPS for the quarter, meeting the consensus estimate of $0.84. Altra Industrial Motion had a return on equity of 10.51% and a net margin of 0.96%. The firm had revenue of $498.10 million during the quarter, compared to the consensus estimate of $475.71 million. During the same period in the prior year, the company earned $0.89 EPS. The firm's revenue was up 1.9% compared to the same quarter last year.
Several other analysts have also recently issued reports on AIMC. Loop Capital initiated coverage on Altra Industrial Motion in a report on Thursday, August 25th. They issued a "buy" rating and a $58.00 target price for the company. BMO Capital Markets increased their price target on Altra Industrial Motion from $45.00 to $50.00 in a report on Friday, August 12th. Robert W. Baird raised their target price on Altra Industrial Motion from $44.00 to $48.00 in a report on Friday, July 29th. Finally, StockNews.com upgraded Altra Industrial Motion from a "buy" rating to a "strong-buy" rating in a report on Wednesday, August 17th.Altra Industrial Motion Stock Up 1.4 %
Shares of NASDAQ:AIMC opened at $39.82 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.32 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $39.05 and a two-hundred day moving average of $38.42. The stock has a market cap of $2.59 billion, a P/E ratio of 142.21, a PEG ratio of 0.79 and a beta of 2.07. Altra Industrial Motion has a 52-week low of $32.18 and a 52-week high of $62.25.
Altra Industrial Motion Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Friday, September 16th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. Altra Industrial Motion's dividend payout ratio is presently 128.57%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in AIMC. Baird Financial Group Inc. raised its holdings in Altra Industrial Motion by 38.0% during the fourth quarter. Baird Financial Group Inc. now owns 15,482 shares of the industrial products company's stock worth $798,000 after purchasing an additional 4,265 shares during the last quarter. AlphaCrest Capital Management LLC increased its stake in Altra Industrial Motion by 560.8% in the fourth quarter. AlphaCrest Capital Management LLC now owns 29,926 shares of the industrial products company's stock valued at $1,543,000 after purchasing an additional 25,397 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Altra Industrial Motion by 53.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 28,130 shares of the industrial products company's stock valued at $1,451,000 after acquiring an additional 9,828 shares during the period. Teacher Retirement System of Texas grew its position in Altra Industrial Motion by 19.9% during the fourth quarter. Teacher Retirement System of Texas now owns 12,492 shares of the industrial products company's stock valued at $644,000 after acquiring an additional 2,071 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in Altra Industrial Motion during the fourth quarter valued at about $1,112,000. Hedge funds and other institutional investors own 98.97% of the company's stock.
Altra Industrial Motion Company Profile
(Get Rating)
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).
See Also
- Get a free copy of the StockNews.com research report on Altra Industrial Motion (AIMC)
- MarketBeat: Week in Review 9/5 – 9/9
- Prepare For A Record-Setting Quarter For Cyber Security Stocks
- The Auto Market Is Slowly Recovering, These Stocks May Outperform
- Is DocuSign On The Verge Of A Major Reversal?
- Oil and Gas Stocks: A Safe Way to Invest in Renewable Energy
Receive News & Ratings for Altra Industrial Motion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altra Industrial Motion and related companies with MarketBeat.com's FREE daily email newsletter.