Raymond James & Associates Has $11.92 Million Stock Holdings in Altra Industrial Motion Corp. (NASDAQ:AIMC)

Raymond James & Associates increased its position in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC – Get Rating) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 354,624 shares of the industrial products company’s stock after buying an additional 7,188 shares during the quarter. Raymond James & Associates’ holdings in Altra Industrial Motion were worth $11,922,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AIMC. Parkside Financial Bank & Trust grew its position in Altra Industrial Motion by 65.7% during the second quarter. Parkside Financial Bank & Trust now owns 739 shares of the industrial products company’s stock worth $26,000 after buying an additional 293 shares in the last quarter. Pinebridge Investments L.P. raised its stake in shares of Altra Industrial Motion by 264.0% in the second quarter. Pinebridge Investments L.P. now owns 728 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 528 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in Altra Industrial Motion in the 2nd quarter worth approximately $32,000. Eagle Bay Advisors LLC grew its holdings in Altra Industrial Motion by 82.8% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,426 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 646 shares during the period. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Altra Industrial Motion by 46.6% in the 1st 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. 85.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered shares of Altra Industrial Motion from an “outperform” rating to a “neutral” rating and set a $62.00 target price for the company. in a research note on Tuesday, November 1st. BMO Capital Markets lowered shares of Altra Industrial Motion from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $50.00 to $62.00 in a research note on Wednesday, December 21st. Finally, StockNews.com cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Altra Industrial Motion presently has a consensus rating of “Hold” and a consensus target price of $60.67.

Altra Industrial Motion Stock Up 0.1 %

Altra Industrial Motion stock opened at $59.90 on Wednesday. The stock has a market cap of $3.90 billion, a P/E ratio of 239.61, a P/E/G ratio of 1.17 and a beta of 2.19. The company has a quick ratio of 1.41, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Altra Industrial Motion Corp. has a twelve month low of $32.18 and a twelve month high of $60.44. The company’s 50-day moving average price is $58.85 and its two-hundred day moving average price is $45.82.

Altra Industrial Motion (NASDAQ:AIMC – Get Rating) last released its quarterly earnings results on Monday, October 31st. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $466.30 million during the quarter, compared to the consensus estimate of $466.43 million. Altra Industrial Motion had a net margin of 0.87% and a return on equity of 10.73%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. As a group, analysts expect that Altra Industrial Motion Corp. will post 3.17 EPS for the current year.

Altra Industrial Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, December 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.60%. Altra Industrial Motion’s payout ratio is presently 144.01%.

About Altra Industrial Motion

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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).