share_log

Engineers Gate Manager LP Takes $3.43 Million Position in Altra Industrial Motion Corp. (NASDAQ:AIMC)

Defense World ·  Sep 12, 2022 05:41

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.

Get Altra Industrial Motion alerts:

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 stock opened at $39.82 on Monday. Altra Industrial Motion Corp. has a 12-month low of $32.18 and a 12-month high of $62.25. The stock has a market capitalization of $2.59 billion, a P/E ratio of 142.21, a P/E/G ratio of 0.81 and a beta of 2.07. The firm's 50-day moving average is $39.05 and its two-hundred day moving average is $38.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.32 and a quick ratio of 1.45.

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

(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).

Featured Articles

  • Get a free copy of the StockNews.com research report on Altra Industrial Motion (AIMC)
  • Can Electronic Arts Buck the Downturn in Videogaming?
  • Dollar General is the Big Fish in Little Ponds Across the U.S.
  • Here's Why the CPI Report will Dictate the Market Bottom
  • MarketBeat: Week in Review 9/5 – 9/9
  • Prepare For A Record-Setting Quarter For Cyber Security Stocks

Want to see what other hedge funds are holding AIMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altra Industrial Motion Corp. (NASDAQ:AIMC – Get Rating).

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.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment