State Street Corp Decreases Stake in Altra Industrial Motion Corp. (AIMC)

State Street Corp lessened its position in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 522,744 shares of the industrial products company’s stock after selling 7,482 shares during the quarter. State Street Corp owned about 1.78% of Altra Industrial Motion Corp. worth $20,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can lifted its position in shares of Altra Industrial Motion Corp. by 191.6% in the second quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 2,926 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Altra Industrial Motion Corp. by 848.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 4,156 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Altra Industrial Motion Corp. by 2.5% in the second quarter. Stifel Financial Corp now owns 5,953 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 148 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Altra Industrial Motion Corp. by 10.7% in the second quarter. Legal & General Group Plc now owns 6,799 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 659 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Altra Industrial Motion Corp. by 17.7% in the second quarter. Aperio Group LLC now owns 7,473 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 1,122 shares during the last quarter. Institutional investors and hedge funds own 99.26% of the company’s stock.

Shares of Altra Industrial Motion Corp. (AIMC) opened at $47.65 on Friday. Altra Industrial Motion Corp. has a fifty-two week low of $34.20 and a fifty-two week high of $50.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.69 and a quick ratio of 1.57. The company has a market capitalization of $1,349.59, a P/E ratio of 23.17 and a beta of 1.67.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last posted its earnings results on Friday, October 20th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The company had revenue of $214.60 million during the quarter, compared to analysts’ expectations of $210.79 million. Altra Industrial Motion Corp. had a return on equity of 16.30% and a net margin of 4.92%. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. research analysts forecast that Altra Industrial Motion Corp. will post 2.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 18th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 15th. This represents a $0.68 annualized dividend and a yield of 1.43%. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is 48.23%.

In other Altra Industrial Motion Corp. news, Director Lipscomb S. Michael sold 25,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $48.34, for a total transaction of $1,208,500.00. Following the completion of the sale, the director now owns 15,848 shares of the company’s stock, valued at $766,092.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Gerald P. Ferris sold 15,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $44.50, for a total value of $667,500.00. Following the sale, the vice president now directly owns 16,722 shares of the company’s stock, valued at approximately $744,129. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,064 shares of company stock valued at $3,699,807. 3.20% of the stock is owned by insiders.

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AIMC has been the subject of several recent research reports. ValuEngine cut Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research cut Altra Industrial Motion Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird reaffirmed a “neutral” rating on shares of Altra Industrial Motion Corp. in a report on Monday, October 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $53.00 price target on shares of Altra Industrial Motion Corp. in a report on Thursday, July 27th. Finally, Sidoti cut Altra Industrial Motion Corp. from a “buy” rating to a “neutral” rating and set a $53.00 price target for the company. in a report on Wednesday, October 4th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.20.

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

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