Altra Industrial Motion Corp (NASDAQ:AIMC) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 4,077,893 shares, an increase of 522.3% from the August 15th total of 655,311 shares. Based on an average trading volume of 1,060,580 shares, the days-to-cover ratio is currently 3.8 days. Approximately 14.2% of the shares of the stock are short sold.
In other news, VP Todd Patriacca sold 3,300 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $46.00, for a total transaction of $151,800.00. Following the sale, the vice president now directly owns 22,590 shares of the company’s stock, valued at approximately $1,039,140. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB lifted its stake in Altra Industrial Motion by 33.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the industrial products company’s stock valued at $254,000 after buying an additional 1,400 shares in the last quarter. Rhumbline Advisers lifted its stake in Altra Industrial Motion by 7.2% in the 2nd quarter. Rhumbline Advisers now owns 32,080 shares of the industrial products company’s stock valued at $1,383,000 after buying an additional 2,160 shares in the last quarter. Zebra Capital Management LLC lifted its stake in Altra Industrial Motion by 13.2% in the 2nd quarter. Zebra Capital Management LLC now owns 18,838 shares of the industrial products company’s stock valued at $812,000 after buying an additional 2,193 shares in the last quarter. WealthTrust Fairport LLC lifted its stake in Altra Industrial Motion by 131.4% in the 2nd quarter. WealthTrust Fairport LLC now owns 3,934 shares of the industrial products company’s stock valued at $170,000 after buying an additional 2,234 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Altra Industrial Motion by 7.7% in the 2nd quarter. First Trust Advisors LP now owns 42,141 shares of the industrial products company’s stock valued at $1,816,000 after buying an additional 2,995 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. BidaskClub lowered shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 3rd. Finally, Zacks Investment Research lowered shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $51.80.
AIMC stock opened at $39.00 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.58. Altra Industrial Motion has a 52-week low of $37.80 and a 52-week high of $53.70. The stock has a market cap of $1.14 billion, a PE ratio of 19.02 and a beta of 1.72.
Altra Industrial Motion (NASDAQ:AIMC) last posted its earnings results on Thursday, July 26th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Altra Industrial Motion had a net margin of 5.87% and a return on equity of 16.87%. The business had revenue of $237.32 million for the quarter, compared to analyst estimates of $239.02 million. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. sell-side analysts forecast that Altra Industrial Motion will post 2.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Monday, September 17th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, September 14th. Altra Industrial Motion’s dividend payout ratio is presently 33.17%.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.
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