BidaskClub upgraded shares of Altra Industrial Motion (NASDAQ:AIMC) from a sell rating to a hold rating in a report issued on Thursday.
AIMC has been the subject of several other reports. TheStreet cut Altra Industrial Motion from a b- rating to a c+ rating in a research report on Wednesday, December 12th. BMO Capital Markets dropped their price target on Altra Industrial Motion from $56.00 to $48.00 and set an outperform rating for the company in a research report on Friday, October 26th. Zacks Investment Research reiterated a strong sell rating on shares of Altra Industrial Motion in a research report on Monday, November 12th. Finally, ValuEngine cut Altra Industrial Motion from a hold rating to a sell rating in a research report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Altra Industrial Motion has a consensus rating of Hold and a consensus price target of $49.80.
Shares of AIMC opened at $32.03 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.34 and a quick ratio of 1.35. Altra Industrial Motion has a one year low of $23.52 and a one year high of $48.25. The company has a market cap of $2.06 billion, a P/E ratio of 15.62 and a beta of 1.91.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Monday, March 18th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, March 15th. Altra Industrial Motion’s dividend payout ratio (DPR) is currently 33.17%.
An institutional investor recently raised its position in Altra Industrial Motion stock. California Public Employees Retirement System boosted its stake in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,167 shares of the industrial products company’s stock after buying an additional 4,850 shares during the period. California Public Employees Retirement System owned 0.19% of Altra Industrial Motion worth $2,421,000 at the end of the most recent quarter. 89.85% of the stock is owned by institutional investors and hedge funds.
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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