Robert W. Baird upgraded shares of Altra Industrial Motion (NASDAQ:AIMC) from a neutral rating to an outperform rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have $50.00 price objective on the industrial products company’s stock.
AIMC has been the topic of a number of other reports. Zacks Investment Research upgraded Altra Industrial Motion from a hold rating to a buy rating and set a $60.00 price target on the stock in a report on Monday, January 22nd. BMO Capital Markets reiterated an outperform rating and issued a $58.00 price target (down from $61.00) on shares of Altra Industrial Motion in a report on Friday, February 23rd. ValuEngine downgraded Altra Industrial Motion from a buy rating to a hold rating in a report on Tuesday, December 26th. BidaskClub upgraded Altra Industrial Motion from a hold rating to a buy rating in a report on Wednesday, December 27th. Finally, Stephens reiterated a buy rating and issued a $56.00 price target (down from $58.00) on shares of Altra Industrial Motion in a report on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Altra Industrial Motion presently has a consensus rating of Hold and a consensus price target of $50.50.
Altra Industrial Motion (NASDAQ:AIMC) opened at $47.25 on Thursday. Altra Industrial Motion has a fifty-two week low of $36.50 and a fifty-two week high of $53.70. The stock has a market capitalization of $1,385.18, a price-to-earnings ratio of 26.55 and a beta of 1.73. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.51 and a quick ratio of 1.49.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors 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 annualized dividend and a yield of 1.44%. Altra Industrial Motion’s dividend payout ratio (DPR) is 38.20%.
In related news, VP Craig Schuele sold 3,315 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 67,886 shares in the company, valued at approximately $3,394,300. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.20% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in AIMC. The Manufacturers Life Insurance Company grew its stake in Altra Industrial Motion by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,891 shares of the industrial products company’s stock worth $872,000 after buying an additional 2,393 shares during the last quarter. California State Teachers Retirement System grew its stake in Altra Industrial Motion by 2.2% during the 2nd quarter. California State Teachers Retirement System now owns 50,750 shares of the industrial products company’s stock worth $2,020,000 after buying an additional 1,112 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Altra Industrial Motion by 23.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock worth $100,000 after buying an additional 479 shares during the last quarter. First Trust Advisors LP purchased a new position in Altra Industrial Motion during the 3rd quarter worth $375,000. Finally, American Century Companies Inc. purchased a new position in Altra Industrial Motion during the 3rd quarter worth $1,009,000. Hedge funds and other institutional investors own 98.62% 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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