Zacks: Brokerages Anticipate Altra Industrial Motion Corp. (AIMC) Will Post Quarterly Sales of $212.17 Million

Analysts forecast that Altra Industrial Motion Corp. (NASDAQ:AIMC) will post $212.17 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Altra Industrial Motion Corp.’s earnings, with the highest sales estimate coming in at $215.52 million and the lowest estimate coming in at $210.20 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 22.5%. The company is scheduled to announce its next earnings results on Friday, October 20th.

According to Zacks, analysts expect that Altra Industrial Motion Corp. will report full-year sales of $212.17 million for the current financial year, with estimates ranging from $858.00 million to $872.04 million. For the next year, analysts expect that the firm will post sales of $896.54 million per share, with estimates ranging from $887.90 million to $906.82 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Altra Industrial Motion Corp..

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

AIMC has been the subject of a number of recent analyst reports. ValuEngine raised Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. BidaskClub lowered Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. BMO Capital Markets reissued a “buy” rating and issued a $53.00 target price on shares of Altra Industrial Motion Corp. in a research report on Thursday, July 27th. Finally, Robert W. Baird reissued a “hold” rating and issued a $48.00 target price on shares of Altra Industrial Motion Corp. in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $49.20.

Shares of Altra Industrial Motion Corp. (NASDAQ AIMC) opened at 46.00 on Friday. The company has a market capitalization of $1.35 billion, a P/E ratio of 38.46 and a beta of 1.67. Altra Industrial Motion Corp. has a one year low of $27.35 and a one year high of $49.60. The firm has a 50-day moving average price of $46.52 and a 200-day moving average price of $42.43.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, September 15th. Altra Industrial Motion Corp.’s dividend payout ratio is currently 59.13%.

In other news, VP Glenn E. Deegan sold 1,825 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $43.37, for a total value of $79,150.25. Following the completion of the transaction, the vice president now owns 41,419 shares of the company’s stock, valued at approximately $1,796,342.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Carl R. Christenson sold 10,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $46.00, for a total value of $460,000.00. Following the completion of the transaction, the chairman now directly owns 98,805 shares of the company’s stock, valued at approximately $4,545,030. The disclosure for this sale can be found here. Insiders sold a total of 64,104 shares of company stock valued at $2,934,408 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Altra Industrial Motion Corp. by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 193,782 shares of the industrial products company’s stock valued at $7,547,000 after buying an additional 9,655 shares in the last quarter. Karp Capital Management Corp bought a new position in Altra Industrial Motion Corp. during the 1st quarter valued at approximately $247,000. Sei Investments Co. increased its position in Altra Industrial Motion Corp. by 111.8% during the 1st quarter. Sei Investments Co. now owns 23,037 shares of the industrial products company’s stock valued at $898,000 after buying an additional 12,160 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Altra Industrial Motion Corp. by 44.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock valued at $128,000 after buying an additional 1,010 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in Altra Industrial Motion Corp. during the 1st quarter valued at approximately $226,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

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About Altra Industrial Motion Corp.

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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