Altra Industrial Motion Corp. (AIMC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,749,808 shares of the industrial products company’s stock after purchasing an additional 23,428 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.97% of Altra Industrial Motion Corp. worth $69,642,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AIMC. Wells Fargo & Company MN increased its position in Altra Industrial Motion Corp. by 2.7% during the 1st quarter. Wells Fargo & Company MN now owns 640,923 shares of the industrial products company’s stock worth $24,964,000 after purchasing an additional 16,750 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Altra Industrial Motion Corp. during the 1st quarter worth approximately $241,000. US Bancorp DE increased its position in Altra Industrial Motion Corp. by 5.8% during the 1st quarter. US Bancorp DE now owns 27,727 shares of the industrial products company’s stock worth $1,080,000 after purchasing an additional 1,521 shares in the last quarter. Bank of New York Mellon Corp increased its position in Altra Industrial Motion Corp. by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 193,782 shares of the industrial products company’s stock worth $7,547,000 after purchasing an additional 9,655 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Altra Industrial Motion Corp. during the 1st quarter worth approximately $247,000. Institutional investors and hedge funds own 98.31% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was reported by Ticker Report and is the property of of Ticker Report. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.tickerreport.com/banking-finance/2886192/altra-industrial-motion-corp-aimc-shares-bought-by-jpmorgan-chase-co.html.

A number of equities analysts recently issued reports on AIMC shares. BMO Capital Markets reiterated a “buy” rating and set a $53.00 price objective on shares of Altra Industrial Motion Corp. in a research report on Wednesday, September 6th. ValuEngine upgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, BidaskClub cut shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.33.

Altra Industrial Motion Corp. (AIMC) opened at 46.15 on Tuesday. Altra Industrial Motion Corp. has a 12 month low of $26.24 and a 12 month high of $46.90. The firm has a market capitalization of $1.35 billion, a PE ratio of 38.59 and a beta of 1.64. The firm has a 50-day moving average of $44.46 and a 200 day moving average of $41.32.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. The firm had revenue of $223.35 million for the quarter, compared to the consensus estimate of $219.15 million. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 16.50%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Equities research analysts forecast that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 18th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, September 15th. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is presently 59.13%.

In other Altra Industrial Motion Corp. news, Director Lyle G. Ganske sold 10,000 shares of Altra Industrial Motion Corp. stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.30, for a total transaction of $453,000.00. Following the transaction, the director now directly owns 11,493 shares of the company’s stock, valued at $520,632.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gerald P. Ferris sold 2,132 shares of Altra Industrial Motion Corp. stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $46.00, for a total transaction of $98,072.00. Following the transaction, the vice president now directly owns 16,722 shares in the company, valued at $769,212. The disclosure for this sale can be found here. Insiders have sold 44,180 shares of company stock worth $1,997,980 over the last three months. 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.

Want to see what other hedge funds are holding AIMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altra Industrial Motion Corp. (NASDAQ:AIMC).

Institutional Ownership by Quarter for Altra Industrial Motion Corp. (NASDAQ:AIMC)

Receive News & Ratings for Altra Industrial Motion Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altra Industrial Motion Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.