State Board of Administration of Florida Retirement System increased its stake in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 12.8% during the second quarter, Holdings Channel reports. The fund owned 30,646 shares of the company’s stock after buying an additional 3,476 shares during the period. State Board of Administration of Florida Retirement System owned about 0.12% of Altra Industrial Motion Corp. worth $827,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of Altra Industrial Motion Corp. by 13.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,881 shares of the company’s stock valued at $136,000 after buying an additional 565 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in Altra Industrial Motion Corp. during the first quarter worth about $223,000. UBS Asset Management Americas Inc. increased its stake in Altra Industrial Motion Corp. by 10.8% in the first quarter. UBS Asset Management Americas Inc. now owns 11,300 shares of the company’s stock worth $314,000 after buying an additional 1,101 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Altra Industrial Motion Corp. during the second quarter worth about $348,000. Finally, Nordea Investment Management AB acquired a new stake in Altra Industrial Motion Corp. during the second quarter worth about $460,000.
Shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) traded up 1.66% during trading on Wednesday, hitting $28.74. 49,018 shares of the stock traded hands. The company has a market cap of $744.48 million, a P/E ratio of 21.63 and a beta of 1.76. Altra Industrial Motion Corp. has a 1-year low of $20.55 and a 1-year high of $30.00. The stock has a 50-day moving average of $28.16 and a 200 day moving average of $27.89.
Altra Industrial Motion Corp. (NASDAQ:AIMC) last announced its earnings results on Thursday, July 21st. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The company earned $182.70 million during the quarter, compared to the consensus estimate of $183.38 million. Altra Industrial Motion Corp. had a net margin of 4.79% and a return on equity of 16.69%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, equities research analysts predict that Altra Industrial Motion Corp. will post $1.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Monday, September 19th will be issued a $0.15 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.12%. Altra Industrial Motion Corp.’s dividend payout ratio is currently 45.45%.
Separately, Zacks Investment Research raised shares of Altra Industrial Motion Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $29.00.
In other news, VP Gerald P. Ferris sold 9,200 shares of the stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $29.00, for a total value of $266,800.00. Following the completion of the sale, the vice president now owns 67,571 shares in the company, valued at $1,959,559. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lyle G. Ganske sold 5,000 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $28.63, for a total transaction of $143,150.00. Following the completion of the sale, the director now owns 17,564 shares of the company’s stock, valued at approximately $502,857.32. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.
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. The Company’s products are used to control and transmit power and torque in virtually any industrial application involving movement.
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