Altra Industrial Motion (NASDAQ:AIMC) Sees Unusually-High Trading Volume

Altra Industrial Motion Corp. (NASDAQ:AIMC – Get Rating) shares saw unusually-strong trading volume on Friday . Approximately 1,794,653 shares changed hands during trading, an increase of 62% from the previous session’s volume of 1,109,917 shares.The stock last traded at $61.07 and had previously closed at $61.40.

Analyst Ratings Changes

Several analysts have issued reports on AIMC shares. BMO Capital Markets cut Altra Industrial Motion from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $50.00 to $62.00 in a research note on Wednesday, December 21st. Loop Capital cut Altra Industrial Motion from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Friday, March 3rd. Finally, StockNews.com started coverage on Altra Industrial Motion in a research note on Saturday. They set a “hold” rating on the stock.

Altra Industrial Motion Price Performance

The company has a market capitalization of $3.99 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 1.51 and a beta of 2.14. The company has a fifty day moving average price of $61.13 and a 200 day moving average price of $53.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.22 and a quick ratio of 1.32.

Altra Industrial Motion (NASDAQ:AIMC – Get Rating) last posted its earnings results on Thursday, March 2nd. The industrial products company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The company had revenue of $469.40 million for the quarter, compared to the consensus estimate of $463.23 million. Altra Industrial Motion had a net margin of 6.53% and a return on equity of 10.93%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. On average, sell-side analysts forecast that Altra Industrial Motion Corp. will post 3.4 EPS for the current fiscal year.

Altra Industrial Motion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Thursday, March 16th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Wednesday, March 15th. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 18.56%.

Hedge Funds Weigh In On Altra Industrial Motion

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Altra Industrial Motion by 97.0% in the 4th quarter. CWM LLC now owns 593 shares of the industrial products company’s stock worth $35,000 after buying an additional 292 shares in the last quarter. Altshuler Shaham Ltd bought a new position in Altra Industrial Motion in the 3rd quarter worth approximately $44,000. Eagle Bay Advisors LLC grew its holdings in Altra Industrial Motion by 82.8% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,426 shares of the industrial products company’s stock worth $50,000 after buying an additional 646 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in Altra Industrial Motion by 46.6% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,385 shares of the industrial products company’s stock worth $54,000 after buying an additional 440 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Altra Industrial Motion by 140.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,729 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,009 shares in the last quarter. 85.50% of the stock is owned by institutional investors.

About Altra Industrial Motion

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Altra Industrial Motion Corp. engages in the design, production, and marketing of electromechanical power transmission motion controls. It operates through the Power Transmission Technologies, and Automation and Specialty segments. The Power Transmission Technologies segment focuses on the production of couplings, clutches, and brakes, electromagnetic clutches and brakes, and gears.