Earnest Partners LLC Invests $71.26 Million in Altra Industrial Motion Corp (NASDAQ:AIMC)

Share on StockTwits

Earnest Partners LLC purchased a new position in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,985,993 shares of the industrial products company’s stock, valued at approximately $71,257,000. Earnest Partners LLC owned 3.08% of Altra Industrial Motion as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AIMC. BlackRock Inc. acquired a new position in shares of Altra Industrial Motion during the second quarter worth about $165,370,000. Wasatch Advisors Inc. acquired a new position in Altra Industrial Motion during the second quarter worth about $123,431,000. JPMorgan Chase & Co. acquired a new position in Altra Industrial Motion during the second quarter worth about $76,617,000. Wells Fargo & Company MN acquired a new position in Altra Industrial Motion during the second quarter worth about $39,733,000. Finally, Rothschild & Co. Asset Management US Inc. acquired a new position in Altra Industrial Motion during the second quarter worth about $34,320,000.

Shares of NASDAQ AIMC opened at $29.70 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.12 and a quick ratio of 1.41. The company has a market capitalization of $1.78 billion, a PE ratio of 10.38 and a beta of 1.96. The firm’s 50-day moving average is $26.10 and its two-hundred day moving average is $31.82. Altra Industrial Motion Corp has a 12-month low of $23.52 and a 12-month high of $44.05.

Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.08). The firm had revenue of $466.50 million for the quarter, compared to analysts’ expectations of $488.01 million. Altra Industrial Motion had a net margin of 4.34% and a return on equity of 10.50%. The business’s quarterly revenue was up 96.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. On average, analysts forecast that Altra Industrial Motion Corp will post 2.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, September 17th. Altra Industrial Motion’s payout ratio is 23.78%.

Several research analysts have weighed in on the stock. ValuEngine lowered shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research report on Friday, July 26th. BidaskClub raised shares of Altra Industrial Motion from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. Robert W. Baird set a $46.00 price target on shares of Altra Industrial Motion and gave the company a “buy” rating in a report on Friday, July 26th. TheStreet downgraded shares of Altra Industrial Motion from a “b-” rating to a “c+” rating in a report on Monday, August 12th. Finally, KeyCorp reduced their price target on shares of Altra Industrial Motion from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $46.25.

In related news, Director Larry Mcpherson sold 9,922 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $25.40, for a total transaction of $252,018.80. Following the transaction, the director now owns 9,608 shares of the company’s stock, valued at $244,043.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

About Altra Industrial Motion

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.

Recommended Story: LIBOR

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

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



Latest News

Rosehill Resources  Lifted to Hold at Zacks Investment Research
Rosehill Resources Lifted to Hold at Zacks Investment Research
National CineMedia  PT Raised to $12.00
National CineMedia PT Raised to $12.00
Corning  PT Lowered to $34.00
Corning PT Lowered to $34.00
JPMorgan Chase & Co. Increases Knowles  Price Target to $19.00
JPMorgan Chase & Co. Increases Knowles Price Target to $19.00
FB Financial  Rating Reiterated by Stephens
FB Financial Rating Reiterated by Stephens
JPMorgan Chase & Co. Increases Intercontinental Exchange  Price Target to $98.00
JPMorgan Chase & Co. Increases Intercontinental Exchange Price Target to $98.00


© 2006-2019 Ticker Report