Altra Industrial Motion (NASDAQ:AIMC) Downgraded to Hold at BidaskClub

BidaskClub cut shares of Altra Industrial Motion (NASDAQ:AIMC) from a buy rating to a hold rating in a research note published on Friday, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Altra Industrial Motion from a sell rating to a strong sell rating in a research report on Friday, July 26th. KeyCorp lowered their price target on shares of Altra Industrial Motion from $49.00 to $45.00 and set an overweight rating for the company in a research report on Friday, July 26th. Robert W. Baird set a $46.00 price target on shares of Altra Industrial Motion and gave the stock a buy rating in a research report on Friday, July 26th. Finally, TheStreet cut shares of Altra Industrial Motion from a b- rating to a c+ rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $46.25.

Altra Industrial Motion stock opened at $27.92 on Friday. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 9.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.12 and a quick ratio of 1.41. Altra Industrial Motion has a 1 year low of $23.52 and a 1 year high of $43.40. The firm has a 50-day moving average of $26.03 and a two-hundred day moving average of $31.68.



Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.08). Altra Industrial Motion had a return on equity of 10.50% and a net margin of 4.34%. The business had revenue of $466.50 million during the quarter, compared to analysts’ expectations of $488.01 million. During the same period in the previous year, the company posted $0.71 EPS. Altra Industrial Motion’s revenue for the quarter was up 96.6% on a year-over-year basis. Research analysts expect that Altra Industrial Motion will post 2.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 18th will be given a $0.17 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.68 annualized dividend and a dividend yield of 2.44%. Altra Industrial Motion’s payout ratio is presently 23.78%.

In other news, Director Larry Mcpherson sold 9,922 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $25.40, for a total value of $252,018.80. Following the completion of the sale, the director now owns 9,608 shares of the company’s stock, valued at approximately $244,043.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth approximately $223,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth approximately $4,661,000. Royal Bank of Canada bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth approximately $35,672,000. Spitfire Capital LLC bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth approximately $6,179,000. Finally, Verition Fund Management LLC bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth approximately $225,000.

Altra Industrial Motion Company Profile

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.

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