Altra Industrial Motion Corp (NASDAQ:AIMC) announced a quarterly dividend on Wednesday, February 13th, Wall Street Journal reports. Stockholders of record on Monday, March 18th will be paid a dividend of 0.17 per share by the industrial products company on Tuesday, April 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, March 15th.
Altra Industrial Motion has raised its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Altra Industrial Motion has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Altra Industrial Motion to earn $3.63 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 18.7%.
Shares of NASDAQ AIMC opened at $32.07 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.09 and a quick ratio of 1.40. The firm has a market capitalization of $2.05 billion, a PE ratio of 11.21 and a beta of 1.87. Altra Industrial Motion has a 1 year low of $23.52 and a 1 year high of $48.25.
A number of analysts have recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $45.00 price objective on shares of Altra Industrial Motion in a research note on Monday, November 19th. Zacks Investment Research cut shares of Altra Industrial Motion from a “hold” rating to a “strong sell” rating in a research note on Monday, February 25th. ValuEngine cut shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research note on Friday, March 1st. BidaskClub cut shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, TheStreet cut shares of Altra Industrial Motion from a “b-” rating to a “c+” rating in a research note on Wednesday, December 12th. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.25.
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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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