Legal & General Group Plc reduced its stake in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,140 shares of the industrial products company’s stock after selling 129 shares during the period. Legal & General Group Plc’s holdings in Altra Industrial Motion Corp. were worth $238,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Altra Industrial Motion Corp. by 12.8% in the first quarter. JPMorgan Chase & Co. now owns 1,726,380 shares of the industrial products company’s stock valued at $67,242,000 after buying an additional 195,242 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Altra Industrial Motion Corp. by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 1,283,467 shares of the industrial products company’s stock valued at $49,991,000 after buying an additional 38,623 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Altra Industrial Motion Corp. by 2.7% in the first quarter. Wells Fargo & Company MN now owns 640,923 shares of the industrial products company’s stock valued at $24,964,000 after buying an additional 16,750 shares during the last quarter. Eagle Boston Investment Management Inc. boosted 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 valued at $7,806,000 after buying an additional 10,537 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Altra Industrial Motion Corp. by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 193,782 shares of the industrial products company’s stock worth $7,547,000 after buying an additional 9,655 shares in the last quarter. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

Altra Industrial Motion Corp. (NASDAQ AIMC) remained flat at $44.05 on Friday. 8,032 shares of the company traded hands. The firm has a market cap of $1.29 billion, a PE ratio of 36.83 and a beta of 1.67. The firm has a 50-day moving average of $41.32 and a 200-day moving average of $40.35. Altra Industrial Motion Corp. has a one year low of $26.24 and a one year high of $46.90.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. The firm had revenue of $223.35 million during the quarter, compared to the consensus estimate 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 revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. Equities research analysts predict that Altra Industrial Motion Corp. will post $2.04 EPS for the current fiscal year.

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

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A number of brokerages have weighed in on AIMC. Zacks Investment Research cut shares of Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. BidaskClub cut shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. BMO Capital Markets lifted their price target on shares of Altra Industrial Motion Corp. from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. TheStreet upgraded shares of Altra Industrial Motion Corp. from a “c+” rating to a “b” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC lifted their price target on shares of Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.33.

In related news, 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 of the company’s stock, valued at approximately $1,233,582. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lyle G. Ganske sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.30, for a total transaction of $453,000.00. Following the sale, the director now directly owns 11,493 shares of the company’s stock, valued at approximately $520,632.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,000 shares of company stock valued at $935,000. Corporate 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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Institutional Ownership by Quarter for Altra Industrial Motion Corp. (NASDAQ:AIMC)

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