State of New Jersey Common Pension Fund D Boosts Stake in Altra Industrial Motion Corp. (NASDAQ:AIMC)

State of New Jersey Common Pension Fund D increased its position in Altra Industrial Motion Corp. (NASDAQ:AIMCGet Rating) by 21.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 57,462 shares of the industrial products company’s stock after purchasing an additional 10,266 shares during the period. State of New Jersey Common Pension Fund D owned 0.09% of Altra Industrial Motion worth $2,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Altra Industrial Motion in the 4th quarter valued at about $49,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in Altra Industrial Motion by 45.1% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,274 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 396 shares during the period. Pinebridge Investments L.P. acquired a new position in Altra Industrial Motion in the 4th quarter valued at about $93,000. Associated Banc Corp acquired a new position in Altra Industrial Motion in the 4th quarter valued at about $205,000. Finally, Bailard Inc. acquired a new position in Altra Industrial Motion in the 1st quarter valued at about $265,000.

Wall Street Analysts Forecast Growth

AIMC has been the topic of several recent research reports. StockNews.com upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Robert W. Baird boosted their price target on Altra Industrial Motion from $44.00 to $48.00 in a research report on Friday, July 29th.

Altra Industrial Motion Stock Performance

NASDAQ AIMC opened at $40.65 on Thursday. The company has a current ratio of 2.32, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $37.31 and its two-hundred day moving average is $39.70. Altra Industrial Motion Corp. has a 12-month low of $32.18 and a 12-month high of $62.56. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 145.18, a PEG ratio of 0.83 and a beta of 2.07.

Altra Industrial Motion (NASDAQ:AIMCGet Rating) last released its earnings results on Thursday, July 28th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. Altra Industrial Motion had a return on equity of 10.51% and a net margin of 0.96%. The company had revenue of $498.10 million for the quarter, compared to analysts’ expectations of $475.71 million. During the same quarter in the previous year, the firm posted $0.89 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts expect that Altra Industrial Motion Corp. will post 3.3 EPS for the current year.

Altra Industrial Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Friday, September 16th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, September 15th. Altra Industrial Motion’s payout ratio is 128.57%.

Altra Industrial Motion Profile

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Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in various motion-related applications, and high-volume manufacturing and non-manufacturing processes. It operates in two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).

See Also

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

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