Altra Industrial Motion Corp. (AIMC) Position Decreased by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 45.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,907 shares of the industrial products company’s stock after selling 4,910 shares during the period. FineMark National Bank & Trust’s holdings in Altra Industrial Motion Corp. were worth $235,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. AlphaOne Investment Services LLC increased its stake in Altra Industrial Motion Corp. by 5.1% in the first quarter. AlphaOne Investment Services LLC now owns 102,355 shares of the industrial products company’s stock worth $3,987,000 after buying an additional 4,969 shares in the last quarter. 1st Global Advisors Inc. purchased a new stake in Altra Industrial Motion Corp. during the first quarter worth approximately $202,000. Mutual of America Capital Management LLC purchased a new stake in Altra Industrial Motion Corp. during the first quarter worth approximately $3,669,000. Eagle Boston Investment Management Inc. increased its stake in Altra Industrial Motion Corp. by 5.5% in the first quarter. Eagle Boston Investment Management Inc. now owns 200,430 shares of the industrial products company’s stock worth $7,806,000 after buying an additional 10,537 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Altra Industrial Motion Corp. by 111.8% in the first quarter. Sei Investments Co. now owns 23,037 shares of the industrial products company’s stock worth $898,000 after buying an additional 12,160 shares in the last quarter. Institutional investors and hedge funds own 98.20% of the company’s stock.

Altra Industrial Motion Corp. (NASDAQ AIMC) remained flat at $44.05 during mid-day trading on Friday. The company’s stock had a trading volume of 103,541 shares. Altra Industrial Motion Corp. has a 1-year low of $26.24 and a 1-year high of $46.90. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 36.83 and a beta of 1.67. The firm has a 50 day moving average of $41.44 and a 200-day moving average of $40.39.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $223.35 million for the quarter, compared to analyst estimates of $219.15 million. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 16.50%. The company’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. On average, analysts expect that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.54%. Altra Industrial Motion Corp.’s dividend payout ratio is presently 59.13%.

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Several brokerages have weighed in on AIMC. Zacks Investment Research raised Altra Industrial Motion Corp. from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective on the stock in a research note on Thursday, July 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $53.00 target price on shares of Altra Industrial Motion Corp. in a research note on Thursday, July 27th. TheStreet raised Altra Industrial Motion Corp. from a “c+” rating to a “b” rating in a research note on Friday, April 28th. Jefferies Group LLC upped their target price on Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 8th. Finally, BidaskClub cut Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Altra Industrial Motion Corp. has an average rating of “Buy” and a consensus price target of $47.33.

In other news, Chairman Carl R. Christenson sold 10,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $44.00, for a total value of $440,000.00. Following the sale, the chairman now directly owns 136,176 shares in the company, valued at $5,991,744. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd Patriacca sold 1,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $42.00, for a total transaction of $42,000.00. Following the completion of the sale, the vice president now owns 29,371 shares in the company, valued at $1,233,582. The disclosure for this sale can be found here. Insiders sold 21,000 shares of company stock worth $935,000 over the last quarter. Company insiders own 3.20% 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.

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

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