Verition Fund Management LLC Purchases Shares of 6,266 Altra Industrial Motion Corp (NASDAQ:AIMC)

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.

Shares of NASDAQ:AIMC opened at $26.02 on Friday. Altra Industrial Motion Corp has a 52 week low of $23.52 and a 52 week high of $42.27. 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 company’s fifty day moving average is $26.44 and its 200-day moving average is $31.37. The company has a market capitalization of $1.68 billion, a PE ratio of 9.10 and a beta of 1.94.

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.

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Institutional Ownership by Quarter for Altra Industrial Motion (NASDAQ:AIMC)

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