Robert W. Baird reiterated their neutral rating on shares of Altra Industrial Motion (NASDAQ:AIMC) in a research report sent to investors on Thursday morning. Robert W. Baird currently has a $50.00 price objective on the industrial products company’s stock, down from their prior price objective of $54.00.
Several other equities research analysts also recently commented on AIMC. Zacks Investment Research downgraded Altra Industrial Motion from a buy rating to a hold rating in a report on Thursday, December 14th. ValuEngine downgraded Altra Industrial Motion from a buy rating to a hold rating in a report on Tuesday, December 26th. Finally, BidaskClub upgraded Altra Industrial Motion from a hold rating to a buy rating in a report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $51.17.
Shares of Altra Industrial Motion (AIMC) opened at $44.80 on Thursday. The company has a market capitalization of $1,313.35, a PE ratio of 21.85 and a beta of 1.61. The company has a current ratio of 2.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.77. Altra Industrial Motion has a twelve month low of $36.50 and a twelve month high of $53.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 19th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.68 dividend on an annualized basis and a yield of 1.52%. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 38.20%.
In other Altra Industrial Motion news, VP Craig Schuele sold 3,315 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $50.00, for a total transaction of $165,750.00. Following the completion of the sale, the vice president now owns 67,886 shares in the company, valued at approximately $3,394,300. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Altra Industrial Motion by 9.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock valued at $88,739,000 after purchasing an additional 189,048 shares in the last quarter. Earnest Partners LLC grew its stake in Altra Industrial Motion by 20.4% during the 4th quarter. Earnest Partners LLC now owns 1,902,381 shares of the industrial products company’s stock valued at $95,880,000 after purchasing an additional 322,792 shares in the last quarter. Wasatch Advisors Inc. grew its stake in Altra Industrial Motion by 72.1% during the 4th quarter. Wasatch Advisors Inc. now owns 1,683,489 shares of the industrial products company’s stock valued at $84,848,000 after purchasing an additional 705,534 shares in the last quarter. Victory Capital Management Inc. grew its stake in Altra Industrial Motion by 28.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock valued at $75,984,000 after purchasing an additional 348,393 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Altra Industrial Motion by 4.9% during the 4th quarter. Wells Fargo & Company MN now owns 543,248 shares of the industrial products company’s stock valued at $27,379,000 after purchasing an additional 25,586 shares in the last quarter. Hedge funds and other institutional investors own 99.09% 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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