Anchor Bolt Capital LP Reduces Position in Altra Industrial Motion Corp (NASDAQ:AIMC)

Anchor Bolt Capital LP cut its holdings in Altra Industrial Motion Corp (NASDAQ:AIMC) by 38.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 366,574 shares of the industrial products company’s stock after selling 229,989 shares during the period. Anchor Bolt Capital LP owned about 1.25% of Altra Industrial Motion worth $17,632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Altra Industrial Motion by 9.3% during the second quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock worth $88,739,000 after purchasing an additional 189,048 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Altra Industrial Motion by 1.4% during the second quarter. JPMorgan Chase & Co. now owns 1,749,808 shares of the industrial products company’s stock worth $69,642,000 after buying an additional 23,428 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Altra Industrial Motion by 28.3% during the third quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock worth $75,984,000 after buying an additional 348,393 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of Altra Industrial Motion by 0.7% during the second quarter. Earnest Partners LLC now owns 1,558,545 shares of the industrial products company’s stock worth $62,030,000 after buying an additional 11,531 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Altra Industrial Motion by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,301,192 shares of the industrial products company’s stock worth $51,787,000 after buying an additional 17,428 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.

A number of research analysts recently commented on AIMC shares. ValuEngine raised Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BMO Capital Markets reissued a “buy” rating and set a $53.00 target price on shares of Altra Industrial Motion in a research note on Wednesday, September 6th. Zacks Investment Research downgraded Altra Industrial Motion from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird restated a “hold” rating and set a $48.00 price target on shares of Altra Industrial Motion in a report on Wednesday, October 4th. Finally, Sidoti cut Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a report on Wednesday, October 4th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $49.20.

In related news, Director Lipscomb S. Michael sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.34, for a total transaction of $1,208,500.00. Following the transaction, the director now directly owns 15,848 shares of the company’s stock, valued at approximately $766,092.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Craig Schuele sold 3,315 shares of Altra Industrial Motion stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $50.00, for a total value of $165,750.00. Following the completion of the transaction, the vice president now directly owns 67,886 shares in the company, valued at $3,394,300. The disclosure for this sale can be found here. Insiders have sold a total of 30,100 shares of company stock valued at $1,463,299 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Altra Industrial Motion Corp (NASDAQ AIMC) traded down $0.10 during midday trading on Friday, reaching $50.40. The company had a trading volume of 97,003 shares, compared to its average volume of 114,979. The stock has a market cap of $1,478.41, a price-to-earnings ratio of 35.74 and a beta of 1.66. Altra Industrial Motion Corp has a twelve month low of $35.20 and a twelve month high of $50.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.69 and a quick ratio of 1.57.

Altra Industrial Motion (NASDAQ:AIMC) last released its quarterly earnings results on Friday, October 20th. The industrial products company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $214.60 million during the quarter, compared to analyst estimates of $210.79 million. Altra Industrial Motion had a return on equity of 16.30% and a net margin of 4.92%. Altra Industrial Motion’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. research analysts anticipate that Altra Industrial Motion Corp will post 2.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 18th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.35%. Altra Industrial Motion’s payout ratio is 48.23%.

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Altra Industrial Motion Company Profile

Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. It manufactures a range of couplings suitable for various industrial and specialty applications.

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

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