Altra Industrial Motion Corp (NASDAQ:AIMC) saw a large increase in short interest in the month of September. As of September 28th, there was short interest totalling 13,857,037 shares, an increase of 58.6% from the September 14th total of 8,737,862 shares. Based on an average trading volume of 4,859,497 shares, the short-interest ratio is currently 2.9 days. Currently, 48.3% of the shares of the company are short sold.
A number of research analysts have recently commented on the stock. BidaskClub downgraded shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 3rd. Zacks Investment Research downgraded shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. BMO Capital Markets lifted their price objective on shares of Altra Industrial Motion from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Robert W. Baird reissued a “buy” rating and issued a $52.00 price objective on shares of Altra Industrial Motion in a research report on Friday, July 20th. Finally, ValuEngine downgraded shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $52.00.
NASDAQ AIMC opened at $38.71 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.58 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.21 billion, a PE ratio of 18.97 and a beta of 1.69. Altra Industrial Motion has a 52-week low of $37.80 and a 52-week high of $53.70.
Altra Industrial Motion (NASDAQ:AIMC) last posted its earnings results on Thursday, July 26th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $237.32 million during the quarter, compared to analysts’ expectations of $239.02 million. Altra Industrial Motion had a net margin of 5.87% and a return on equity of 16.87%. Altra Industrial Motion’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. As a group, equities research analysts expect that Altra Industrial Motion will post 2.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, September 14th. Altra Industrial Motion’s dividend payout ratio is presently 33.17%.
In other news, VP Todd Patriacca sold 3,300 shares of Altra Industrial Motion stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $46.00, for a total value of $151,800.00. Following the completion of the transaction, the vice president now owns 22,590 shares of the company’s stock, valued at approximately $1,039,140. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors Inc. raised its stake in Altra Industrial Motion by 7.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,293,303 shares of the industrial products company’s stock worth $98,841,000 after purchasing an additional 159,453 shares in the last quarter. BlackRock Inc. raised its stake in Altra Industrial Motion by 8.3% in the 2nd quarter. BlackRock Inc. now owns 2,003,997 shares of the industrial products company’s stock worth $86,373,000 after purchasing an additional 153,453 shares in the last quarter. Earnest Partners LLC raised its stake in Altra Industrial Motion by 0.6% in the 2nd quarter. Earnest Partners LLC now owns 1,951,449 shares of the industrial products company’s stock worth $84,107,000 after purchasing an additional 11,332 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Altra Industrial Motion by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,322,902 shares of the industrial products company’s stock worth $57,017,000 after purchasing an additional 22,852 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in Altra Industrial Motion by 0.3% in the 2nd quarter. Macquarie Group Ltd. now owns 1,181,579 shares of the industrial products company’s stock worth $50,926,000 after purchasing an additional 3,023 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.
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