Brokerages Anticipate Altra Industrial Motion Corp. (AIMC) Will Announce Quarterly Sales of $211.02 Million

Brokerages forecast that Altra Industrial Motion Corp. (NASDAQ:AIMC) will announce $211.02 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Altra Industrial Motion Corp.’s earnings. The lowest sales estimate is $210.20 million and the highest is $212.06 million. Altra Industrial Motion Corp. posted sales of $173.13 million during the same quarter last year, which suggests a positive year-over-year growth rate of 21.9%. The company is scheduled to report its next quarterly earnings report on Friday, October 20th.

On average, analysts expect that Altra Industrial Motion Corp. will report full year sales of $211.02 million for the current year, with estimates ranging from $858.00 million to $863.40 million. For the next year, analysts forecast that the business will report sales of $893.60 million per share, with estimates ranging from $887.90 million to $898.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Altra Industrial Motion Corp..

Altra Industrial Motion Corp. (NASDAQ:AIMC) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. The business had revenue of $223.35 million during the quarter, compared to analyst estimates of $219.15 million. During the same quarter last year, the company posted $0.42 EPS. Altra Industrial Motion Corp.’s revenue for the quarter was up 22.3% on a year-over-year basis.

AIMC has been the subject of a number of research analyst reports. ValuEngine raised Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub lowered Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, BMO Capital Markets restated a “buy” rating and issued a $53.00 price target on shares of Altra Industrial Motion Corp. in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.33.

Altra Industrial Motion Corp. (NASDAQ AIMC) traded down 0.62% during trading on Wednesday, hitting $47.95. The company had a trading volume of 38,032 shares. The firm has a 50-day moving average of $45.30 and a 200 day moving average of $41.67. Altra Industrial Motion Corp. has a 12-month low of $26.95 and a 12-month high of $48.60. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 40.09 and a beta of 1.64.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.41%. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is 59.13%.

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In related news, CEO Carl R. Christenson sold 1,601 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $47.00, for a total transaction of $75,247.00. Following the sale, the chief executive officer now owns 98,805 shares in the company, valued at $4,643,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Carl R. Christenson sold 10,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $46.00, for a total value of $460,000.00. Following the sale, the chairman now owns 98,805 shares in the company, valued at approximately $4,545,030. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,104 shares of company stock worth $2,934,408. Corporate insiders own 3.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Altra Industrial Motion Corp. by 31.6% during the first quarter. Bank of America Corp DE now owns 241,876 shares of the industrial products company’s stock worth $9,421,000 after acquiring an additional 58,023 shares in the last quarter. AQR Capital Management LLC raised its holdings in Altra Industrial Motion Corp. by 10.2% during the first quarter. AQR Capital Management LLC now owns 46,319 shares of the industrial products company’s stock worth $1,804,000 after acquiring an additional 4,294 shares in the last quarter. Vanguard Group Inc. raised its holdings in Altra Industrial Motion Corp. by 6.1% during the first quarter. Vanguard Group Inc. now owns 2,040,568 shares of the industrial products company’s stock worth $79,480,000 after acquiring an additional 117,984 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Altra Industrial Motion Corp. by 1.2% during the first quarter. Macquarie Group Ltd. now owns 1,202,576 shares of the industrial products company’s stock worth $46,840,000 after acquiring an additional 14,745 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. raised its holdings in Altra Industrial Motion Corp. by 1.2% during the second quarter. Eagle Boston Investment Management Inc. now owns 202,803 shares of the industrial products company’s stock worth $8,071,000 after acquiring an additional 2,373 shares in the last quarter. Institutional investors and hedge funds own 98.31% of the company’s stock.

Altra Industrial Motion Corp. 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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Earnings History and Estimates for Altra Industrial Motion Corp. (NASDAQ:AIMC)

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