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.
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.
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