Altra Industrial Motion Corp. (AIMC) Plans $0.17 Quarterly Dividend
Altra Industrial Motion Corp. (NASDAQ:AIMC) declared a quarterly dividend on Friday, July 21st, Zacks reports. Investors of record on Monday, September 18th will be given a dividend of 0.17 per share by the industrial products company on Tuesday, October 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, September 15th.
Altra Industrial Motion Corp. (AIMC) opened at 46.10 on Friday. The stock has a market cap of $1.35 billion, a P/E ratio of 38.55 and a beta of 1.64. The company has a 50 day moving average of $44.32 and a 200-day moving average of $41.28. Altra Industrial Motion Corp. has a 12-month low of $26.24 and a 12-month high of $46.90.
Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The firm had revenue of $223.35 million for the quarter, compared to analyst estimates of $219.15 million. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. Altra Industrial Motion Corp.’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities analysts forecast that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current year.
A number of equities research analysts recently commented on the company. BMO Capital Markets reiterated a “buy” rating and issued a $53.00 target price on shares of Altra Industrial Motion Corp. in a research report on Wednesday. ValuEngine upgraded Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Zacks Investment Research upgraded Altra Industrial Motion Corp. from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Altra Industrial Motion Corp. has a consensus rating of “Buy” and an average price target of $47.33.
In other Altra Industrial Motion Corp. news, VP Gerald P. Ferris sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $44.50, for a total value of $667,500.00. Following the sale, the vice president now owns 16,722 shares in the company, valued at approximately $744,129. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Glenn E. Deegan sold 1,825 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $43.37, for a total value of $79,150.25. Following the completion of the sale, the vice president now owns 41,419 shares in the company, valued at approximately $1,796,342.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,180 shares of company stock worth $1,997,980. Insiders own 3.20% of the company’s stock.
About Altra Industrial Motion Corp.
Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. It manufactures a range of couplings suitable for various industrial and specialty applications.
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