Altra Industrial Motion (NASDAQ:AIMC) Sees Large Volume Increase

Altra Industrial Motion Corp. (NASDAQ:AIMC – Get Rating) shares saw unusually-high trading volume on Friday . Approximately 1,794,653 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 1,109,917 shares.The stock last traded at $61.07 and had previously closed at $61.40.

Wall Street Analysts Forecast Growth

AIMC has been the topic of several research analyst reports. BMO Capital Markets downgraded Altra Industrial Motion from an “outperform” rating to a “market perform” rating and raised their price target for the company from $50.00 to $62.00 in a research report on Wednesday, December 21st. Loop Capital downgraded Altra Industrial Motion from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research report on Friday, March 3rd. Finally, StockNews.com initiated coverage on Altra Industrial Motion in a research report on Saturday. They issued a “hold” rating on the stock.

Altra Industrial Motion Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.22 and a quick ratio of 1.32. The company’s 50 day moving average is $61.13 and its two-hundred day moving average is $53.28. The firm has a market cap of $3.99 billion, a P/E ratio of 31.48, a PEG ratio of 1.51 and a beta of 2.14.

Altra Industrial Motion (NASDAQ:AIMC – Get Rating) last released its earnings results on Thursday, March 2nd. The industrial products company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.01). Altra Industrial Motion had a net margin of 6.53% and a return on equity of 10.93%. The company had revenue of $469.40 million during the quarter, compared to the consensus estimate of $463.23 million. During the same quarter in the previous year, the business posted $0.67 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts predict that Altra Industrial Motion Corp. will post 3.4 earnings per share for the current year.

Altra Industrial Motion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Thursday, March 16th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Wednesday, March 15th. Altra Industrial Motion’s payout ratio is presently 18.56%.

Institutional Investors Weigh In On Altra Industrial Motion

Several hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in Altra Industrial Motion by 97.0% during the fourth quarter. CWM LLC now owns 593 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 292 shares during the period. Altshuler Shaham Ltd bought a new position in Altra Industrial Motion during the third quarter worth about $44,000. Eagle Bay Advisors LLC lifted its stake in Altra Industrial Motion by 82.8% during the second quarter. Eagle Bay Advisors LLC now owns 1,426 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 646 shares during the period. Point72 Hong Kong Ltd lifted its stake 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 worth $54,000 after purchasing an additional 440 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Altra Industrial Motion by 140.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,729 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 1,009 shares during the period. Institutional investors own 85.50% of the company’s stock.

Altra Industrial Motion Company Profile

(Get Rating)

Altra Industrial Motion Corp. engages in the design, production, and marketing of electromechanical power transmission motion controls. It operates through the Power Transmission Technologies, and Automation and Specialty segments. The Power Transmission Technologies segment focuses on the production of couplings, clutches, and brakes, electromagnetic clutches and brakes, and gears.