Earnest Partners LLC boosted its stake in Altra Industrial Motion Corp (NASDAQ:AIMC) by 20.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,902,381 shares of the industrial products company’s stock after buying an additional 322,792 shares during the period. Earnest Partners LLC owned approximately 6.50% of Altra Industrial Motion worth $95,880,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in Altra Industrial Motion in the 4th quarter valued at about $206,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Altra Industrial Motion in the 3rd quarter valued at about $203,000. Campbell & CO Investment Adviser LLC acquired a new position in Altra Industrial Motion in the 3rd quarter valued at about $266,000. Sheets Smith Wealth Management acquired a new position in Altra Industrial Motion in the 4th quarter valued at about $327,000. Finally, Brown Advisory Inc. acquired a new position in Altra Industrial Motion in the 3rd quarter valued at about $355,000. Institutional investors and hedge funds own 98.62% of the company’s stock.
A number of research analysts recently commented on AIMC shares. Zacks Investment Research upgraded shares of Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Friday, December 15th. ValuEngine lowered shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Robert W. Baird reiterated a “neutral” rating and issued a $50.00 price target (down previously from $54.00) on shares of Altra Industrial Motion in a research note on Thursday, February 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $58.00 price target (down previously from $61.00) on shares of Altra Industrial Motion in a research note on Friday, February 23rd. Finally, Stephens reiterated a “buy” rating and issued a $56.00 price target (down previously from $58.00) on shares of Altra Industrial Motion in a research note on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Altra Industrial Motion currently has a consensus rating of “Hold” and a consensus target price of $50.50.
Altra Industrial Motion (NASDAQ:AIMC) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.02). Altra Industrial Motion had a return on equity of 4.77% and a net margin of 2.08%. The business had revenue of $223.30 million for the quarter, compared to analyst estimates of $214.70 million. During the same quarter in the previous year, the company earned $0.41 EPS. The business’s revenue for the quarter was up 29.4% on a year-over-year basis. sell-side analysts expect that Altra Industrial Motion Corp will post 2.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 19th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 1.44%. Altra Industrial Motion’s dividend payout ratio is 38.20%.
In related news, VP Craig Schuele sold 3,315 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $50.00, for a total transaction of $165,750.00. Following the sale, the vice president now owns 67,886 shares in the company, valued at approximately $3,394,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.
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Altra Industrial Motion Company Profile
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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