StockNews.com downgraded shares of Altra Industrial Motion (NASDAQ:AIMC – Get Rating) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.
A number of other analysts have also recently weighed in on AIMC. Robert W. Baird upped their target price on shares of Altra Industrial Motion from $44.00 to $48.00 in a research note on Friday, July 29th. Loop Capital assumed coverage on shares of Altra Industrial Motion in a research note on Thursday, August 25th. They issued a buy rating and a $58.00 target price on the stock. Finally, BMO Capital Markets upped their target price on shares of Altra Industrial Motion from $45.00 to $50.00 in a research note on Friday, August 12th.
Get Altra Industrial Motion alerts:Altra Industrial Motion Stock Performance
NASDAQ:AIMC opened at $35.27 on Wednesday. The firm's 50-day moving average is $39.29 and its 200-day moving average is $38.10. Altra Industrial Motion has a 52-week low of $32.18 and a 52-week high of $62.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.32. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 125.96, a PEG ratio of 0.73 and a beta of 2.07.
Altra Industrial Motion (NASDAQ:AIMC – Get Rating) last posted its quarterly earnings data 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 the consensus estimate of $475.71 million. During the same quarter in the previous year, the firm posted $0.89 EPS. The business's revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Altra Industrial Motion will post 3.29 earnings per share for the current year.Altra Industrial Motion Announces Dividend
The company also recently disclosed 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 of this dividend is Thursday, September 15th. This represents a $0.36 annualized dividend and a yield of 1.02%. Altra Industrial Motion's dividend payout ratio is 128.57%.
Institutional Trading of Altra Industrial Motion
Several large investors have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. grew its stake 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 worth $343,651,000 after buying an additional 550,635 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 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 worth $232,880,000 after purchasing an additional 67,144 shares in the last quarter. Boston Partners lifted its position in shares of 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 worth $134,661,000 after purchasing an additional 123,852 shares in the last quarter. Earnest Partners LLC lifted its position in shares of 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 worth $133,703,000 after purchasing an additional 726,188 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of 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 worth $96,841,000 after purchasing an additional 50,003 shares in the last quarter. 98.97% of the stock is owned by institutional investors.
Altra Industrial Motion Company Profile
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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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