Altra Industrial Motion (NASDAQ:AIMC) Stock Price Down 6.3%

Altra Industrial Motion Corp (NASDAQ:AIMC) traded down 6.3% on Tuesday . The stock traded as low as $26.30 and last traded at $26.70, 1,015,231 shares changed hands during mid-day trading. An increase of 103% from the average session volume of 501,268 shares. The stock had previously closed at $28.50.

Several equities analysts have recently weighed in on the company. KeyCorp decreased their price objective on Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, July 26th. TheStreet cut Altra Industrial Motion from a “b-” rating to a “c+” rating in a report on Monday, August 12th. BidaskClub cut Altra Industrial Motion from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine cut Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th. Finally, Robert W. Baird set a $46.00 price objective on Altra Industrial Motion and gave the company a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Altra Industrial Motion presently has a consensus rating of “Hold” and an average price target of $46.25.

The company has a market cap of $1.72 billion, a P/E ratio of 9.34 and a beta of 1.96. The company has a fifty day moving average price of $26.11 and a two-hundred day moving average price of $31.60. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.41 and a current ratio of 2.12.



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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, September 17th. Altra Industrial Motion’s payout ratio is currently 23.78%.

In related news, Director Larry Mcpherson sold 9,922 shares of Altra Industrial Motion stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $25.40, for a total transaction of $252,018.80. Following the completion of the transaction, the director now owns 9,608 shares in the company, valued at $244,043.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in Altra Industrial Motion during the second quarter worth approximately $208,095,000. BlackRock Inc. acquired a new stake in Altra Industrial Motion during the second quarter worth approximately $165,370,000. Silvercrest Asset Management Group LLC acquired a new stake in Altra Industrial Motion during the second quarter worth approximately $127,345,000. Wasatch Advisors Inc. acquired a new stake in Altra Industrial Motion during the second quarter worth approximately $123,431,000. Finally, JPMorgan Chase & Co. acquired a new stake in Altra Industrial Motion during the second quarter worth approximately $76,617,000.

About Altra Industrial Motion (NASDAQ:AIMC)

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.

Read More: Bond

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.