Robert W. Baird restated their hold rating on shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) in a research note released on Wednesday morning. They currently have a $48.00 target price on the industrial products company’s stock.

Several other research firms have also commented on AIMC. ValuEngine lowered Altra Industrial Motion Corp. from a buy rating to a hold rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Altra Industrial Motion Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. BMO Capital Markets reiterated a buy rating and issued a $53.00 price target on shares of Altra Industrial Motion Corp. in a research report on Wednesday, September 6th. Finally, BidaskClub lowered Altra Industrial Motion Corp. from a hold rating to a sell rating in a research report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $49.20.

Shares of Altra Industrial Motion Corp. (AIMC) opened at 46.00 on Wednesday. Altra Industrial Motion Corp. has a 52 week low of $27.35 and a 52 week high of $49.60. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 38.46 and a beta of 1.67. The firm’s 50-day moving average price is $46.52 and its 200 day moving average price is $42.43.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The company had revenue of $223.35 million during the quarter, compared to analyst estimates of $219.15 million. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. The firm’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. On average, equities research analysts forecast that Altra Industrial Motion Corp. will post $2.04 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 18th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, September 15th. Altra Industrial Motion Corp.’s payout ratio is currently 59.13%.

In other Altra Industrial Motion Corp. news, Director Lyle G. Ganske sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.30, for a total value of $453,000.00. Following the completion of the sale, the director now owns 11,493 shares of the company’s stock, valued at $520,632.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Carl R. Christenson sold 1,601 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $47.00, for a total transaction of $75,247.00. Following the completion of the sale, the chief executive officer now directly owns 98,805 shares of the company’s stock, valued at approximately $4,643,835. The disclosure for this sale can be found here. In the last three months, insiders sold 64,104 shares of company stock valued at $2,934,408. 3.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AIMC. Ameritas Investment Partners Inc. lifted its stake in Altra Industrial Motion Corp. by 23.5% in the second quarter. Ameritas Investment Partners Inc. now owns 2,517 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 479 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Altra Industrial Motion Corp. by 44.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 1,010 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake 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 purchasing an additional 2,926 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Altra Industrial Motion Corp. by 848.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 4,156 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in Altra Industrial Motion Corp. in the first quarter worth about $226,000. 98.31% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Altra Industrial Motion Corp. (NASDAQ:AIMC)

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