Verition Fund Management LLC purchased a new stake in Altra Industrial Motion Corp (NASDAQ:AIMC) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 6,266 shares of the industrial products company’s stock, valued at approximately $225,000.
A number of other institutional investors have also made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. bought a new stake in Altra Industrial Motion in the 2nd quarter valued at $106,000. First Manhattan Co. acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter valued at $6,299,000. Eaton Vance Management acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter valued at $1,182,000. United Services Automobile Association acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter valued at $363,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Altra Industrial Motion in the 2nd quarter valued at $212,000.
Several equities research analysts have recently commented on AIMC shares. Sidoti reduced their target price on shares of Altra Industrial Motion from $54.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. KeyCorp reduced their target price on shares of Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. TheStreet downgraded shares of Altra Industrial Motion from a “b-” rating to a “c+” rating in a research note on Monday, August 12th. BidaskClub downgraded shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, ValuEngine upgraded shares of Altra Industrial Motion from a “sell” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Altra Industrial Motion currently has a consensus rating of “Buy” and an average price target of $46.25.
Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Thursday, July 25th. The industrial products company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). The firm had revenue of $466.50 million during the quarter, compared to analyst estimates of $488.01 million. Altra Industrial Motion had a net margin of 4.34% and a return on equity of 10.50%. The firm’s revenue for the quarter was up 96.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, analysts forecast that Altra Industrial Motion Corp will post 2.89 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.68 annualized dividend and a yield of 2.61%. Altra Industrial Motion’s dividend payout ratio (DPR) is 23.78%.
In related news, Director Larry Mcpherson sold 9,922 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $25.40, for a total transaction of $252,018.80. Following the transaction, the director now owns 9,608 shares in the company, valued at approximately $244,043.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.
Altra Industrial Motion 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.
Read More: What is Cost of Capital?
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).
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.