Connable Office Inc. Has $268,000 Stake in Altra Industrial Motion Corp. (AIMC)

Connable Office Inc. maintained its position in Altra Industrial Motion Corp. (NASDAQ:AIMC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,735 shares of the industrial products company’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Altra Industrial Motion Corp. were worth $268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. increased its position in Altra Industrial Motion Corp. by 3.0% in the second quarter. Sei Investments Co. now owns 23,737 shares of the industrial products company’s stock worth $945,000 after buying an additional 700 shares during the last quarter. Great West Life Assurance Co. Can increased its position in 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 worth $176,000 after buying an additional 2,926 shares during the last quarter. Aperio Group LLC increased its position in 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 worth $297,000 after buying an additional 1,122 shares during the last quarter. Nuveen Asset Management LLC increased its position in Altra Industrial Motion Corp. by 19.3% in the first quarter. Nuveen Asset Management LLC now owns 426,304 shares of the industrial products company’s stock worth $16,605,000 after buying an additional 68,860 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in Altra Industrial Motion Corp. by 1.2% in the first quarter. Macquarie Group Ltd. now owns 1,202,576 shares of the industrial products company’s stock worth $46,840,000 after buying an additional 14,745 shares during the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.

Shares of Altra Industrial Motion Corp. (NASDAQ AIMC) opened at 44.05 on Friday. The company has a market capitalization of $1.29 billion, a P/E ratio of 36.83 and a beta of 1.67. Altra Industrial Motion Corp. has a 12 month low of $26.24 and a 12 month high of $46.90. The company 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 announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 16.50%. The firm had revenue of $223.35 million for the quarter, compared to analyst estimates of $219.15 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. Analysts forecast that Altra Industrial Motion Corp. will post $2.04 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be paid 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%.

TRADEMARK VIOLATION NOTICE: This story was originally posted by Stock Observer and is the sole property of of Stock Observer. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.thestockobserver.com/2017/08/12/connable-office-inc-has-268000-stake-in-altra-industrial-motion-corp-aimc.html.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “strong-buy” rating and set a $49.00 price target on the stock in a research report on Thursday, July 27th. BMO Capital Markets restated a “buy” rating and issued a $53.00 price target on shares of Altra Industrial Motion Corp. in a research report on Thursday, July 27th. TheStreet upgraded shares of Altra Industrial Motion Corp. from a “c+” rating to a “b” rating in a research report on Friday, April 28th. Jefferies Group LLC raised their price target on shares of Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 8th. Finally, BidaskClub downgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $47.33.

In other news, Chairman Carl R. Christenson sold 10,000 shares of the business’s stock in a transaction 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 owns 136,176 shares in the company, valued at approximately $5,991,744. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd Patriacca sold 1,000 shares of the business’s stock in a transaction 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 approximately $1,233,582. The disclosure for this sale can be found here. Insiders sold a total of 21,000 shares of company stock worth $935,000 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding AIMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altra Industrial Motion Corp. (NASDAQ:AIMC).

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

Receive News & Ratings for Altra Industrial Motion Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altra Industrial Motion Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply