Ameriprise Financial Inc. reduced its position in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,765 shares of the industrial products company’s stock after selling 20,327 shares during the period. Ameriprise Financial Inc.’s holdings in Altra Industrial Motion Corp. were worth $7,003,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of AIMC. Russell Investments Group Ltd. purchased a new position in shares of Altra Industrial Motion Corp. during the fourth quarter worth approximately $3,621,000. Comerica Bank raised its position in shares of Altra Industrial Motion Corp. by 189.4% in the fourth quarter. Comerica Bank now owns 53,602 shares of the industrial products company’s stock worth $2,018,000 after buying an additional 35,080 shares in the last quarter. State Street Corp raised its position in shares of Altra Industrial Motion Corp. by 3.5% in the fourth quarter. State Street Corp now owns 464,225 shares of the industrial products company’s stock worth $17,131,000 after buying an additional 15,826 shares in the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Altra Industrial Motion Corp. during the fourth quarter worth approximately $302,000. Finally, First Republic Investment Management Inc. raised its position in shares of Altra Industrial Motion Corp. by 10.0% in the fourth quarter. First Republic Investment Management Inc. now owns 12,425 shares of the industrial products company’s stock worth $458,000 after buying an additional 1,130 shares in the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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

Shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) opened at 40.25 on Friday. Altra Industrial Motion Corp. has a 52-week low of $25.77 and a 52-week high of $46.90. The stock has a 50 day moving average of $42.62 and a 200 day moving average of $39.38. The company has a market cap of $1.18 billion, a P/E ratio of 40.13 and a beta of 1.56.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its quarterly earnings results on Friday, April 28th. The industrial products company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. Altra Industrial Motion Corp. had a net margin of 3.58% and a return on equity of 16.20%. The firm had revenue of $215.40 million during the quarter, compared to the consensus estimate of $209.55 million. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue was up 19.3% on a year-over-year basis. On average, equities analysts anticipate that Altra Industrial Motion Corp. will post $1.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Friday, June 16th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, June 14th. This is an increase from Altra Industrial Motion Corp.’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.69%. Altra Industrial Motion Corp.’s dividend payout ratio is 69.39%.

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AIMC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, March 1st. Jefferies Group LLC boosted their price objective on shares of Altra Industrial Motion Corp. to $38.00 and gave the stock a “hold” rating in a report on Wednesday, March 1st. TheStreet lowered shares of Altra Industrial Motion Corp. from a “b” rating to a “c+” rating in a report on Monday, February 27th. Finally, BMO Capital Markets boosted their price objective on shares of Altra Industrial Motion Corp. from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, May 1st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.00.

In other Altra Industrial Motion Corp. news, Chairman Carl R. Christenson sold 40,000 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $43.32, for a total value of $1,732,800.00. Following the completion of the sale, the chairman now directly owns 136,176 shares of the company’s stock, valued at approximately $5,899,144.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Todd Patriacca sold 1,000 shares of the 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 directly owns 29,371 shares of the company’s stock, valued at $1,233,582. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,500 shares of company stock valued at $2,740,050. Insiders own 3.20% of the company’s stock.

About Altra Industrial Motion Corp.

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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