Zebra Capital Management LLC lifted its holdings in Altra Industrial Motion Corp (NASDAQ:AIMC) by 13.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,838 shares of the industrial products company’s stock after acquiring an additional 2,193 shares during the quarter. Zebra Capital Management LLC owned approximately 0.06% of Altra Industrial Motion worth $812,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in Altra Industrial Motion by 316.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,094 shares of the industrial products company’s stock worth $176,000 after buying an additional 3,111 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Altra Industrial Motion by 0.3% during the 2nd quarter. Macquarie Group Ltd. now owns 1,181,579 shares of the industrial products company’s stock worth $50,926,000 after buying an additional 3,023 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Altra Industrial Motion by 36.9% during the 2nd quarter. Voya Investment Management LLC now owns 83,998 shares of the industrial products company’s stock worth $3,620,000 after buying an additional 22,651 shares in the last quarter. Earnest Partners LLC lifted its holdings in Altra Industrial Motion by 0.6% during the 2nd quarter. Earnest Partners LLC now owns 1,951,449 shares of the industrial products company’s stock worth $84,107,000 after buying an additional 11,332 shares in the last quarter. Finally, Citadel Advisors LLC lifted its holdings in Altra Industrial Motion by 313.2% during the 2nd quarter. Citadel Advisors LLC now owns 132,929 shares of the industrial products company’s stock worth $5,729,000 after buying an additional 100,762 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on AIMC. Sidoti raised Altra Industrial Motion from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, August 30th. BMO Capital Markets reduced their price objective on Altra Industrial Motion from $59.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, August 30th. ValuEngine downgraded Altra Industrial Motion from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Robert W. Baird reiterated a “buy” rating and set a $52.00 target price on shares of Altra Industrial Motion in a research report on Friday, July 20th. Finally, Zacks Investment Research cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $51.80.
Shares of Altra Industrial Motion stock opened at $39.95 on Friday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 19.49 and a beta of 1.72. Altra Industrial Motion Corp has a 52 week low of $37.80 and a 52 week high of $53.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.58 and a quick ratio of 1.50.
Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Thursday, July 26th. The industrial products company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The company had revenue of $237.32 million during the quarter, compared to analysts’ expectations of $239.02 million. Altra Industrial Motion had a net margin of 5.87% and a return on equity of 16.87%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. sell-side analysts forecast that Altra Industrial Motion Corp will post 2.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, September 14th. Altra Industrial Motion’s payout ratio is 33.17%.
About Altra Industrial Motion
Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.
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