Teachers Retirement System of The State of Kentucky Increases Stock Holdings in Altra Industrial Motion Corp. (NASDAQ:AIMC)

Teachers Retirement System of The State of Kentucky increased its holdings in Altra Industrial Motion Corp. (NASDAQ:AIMCGet Rating) by 2.7% in the first quarter, HoldingsChannel.com reports. The fund owned 34,700 shares of the industrial products company’s stock after acquiring an additional 924 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Altra Industrial Motion were worth $1,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Connable Office Inc. lifted its stake in Altra Industrial Motion by 4.7% in the fourth quarter. Connable Office Inc. now owns 8,380 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 379 shares during the period. Point72 Hong Kong Ltd lifted its position in Altra Industrial Motion by 46.6% during the first quarter. Point72 Hong Kong Ltd now owns 1,385 shares of the industrial products company’s stock valued at $54,000 after buying an additional 440 shares during the period. Guggenheim Capital LLC lifted its position in Altra Industrial Motion by 0.6% during the first quarter. Guggenheim Capital LLC now owns 131,447 shares of the industrial products company’s stock valued at $5,117,000 after buying an additional 844 shares during the period. Teacher Retirement System of Texas lifted its position in Altra Industrial Motion by 6.9% during the first quarter. Teacher Retirement System of Texas now owns 13,354 shares of the industrial products company’s stock valued at $520,000 after buying an additional 862 shares during the period. Finally, Diversified Trust Co lifted its position in Altra Industrial Motion by 8.5% during the first quarter. Diversified Trust Co now owns 13,020 shares of the industrial products company’s stock valued at $507,000 after buying an additional 1,025 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com lowered Altra Industrial Motion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets raised their price objective on Altra Industrial Motion from $45.00 to $50.00 in a research report on Friday, August 12th. Loop Capital initiated coverage on Altra Industrial Motion in a research report on Thursday, August 25th. They set a “buy” rating and a $58.00 price objective for the company. Finally, Robert W. Baird raised their price target on Altra Industrial Motion from $44.00 to $48.00 in a report on Friday, July 29th.

Altra Industrial Motion Price Performance

Shares of NASDAQ:AIMC opened at $34.43 on Friday. Altra Industrial Motion Corp. has a 1-year low of $32.18 and a 1-year high of $62.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.32 and a quick ratio of 1.45. The business has a fifty day moving average price of $39.29 and a 200-day moving average price of $38.08. The company has a market capitalization of $2.24 billion, a PE ratio of 122.96, a PEG ratio of 0.73 and a beta of 2.07.

Altra Industrial Motion (NASDAQ:AIMCGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The industrial products company reported $0.84 earnings per share for the quarter, meeting 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 firm had revenue of $498.10 million during the quarter, compared to the consensus estimate of $475.71 million. During the same period last year, the company earned $0.89 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Altra Industrial Motion Corp. will post 3.29 EPS for the current fiscal year.

Altra Industrial Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Friday, September 16th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.36 annualized dividend and a yield of 1.05%. Altra Industrial Motion’s payout ratio is 128.57%.

Altra Industrial Motion Company Profile

(Get Rating)

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).

Further Reading

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

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