Altra Industrial Motion Corp (NASDAQ:AIMC)’s share price dropped 6.5% during trading on Monday . The stock traded as low as $31.55 and last traded at $31.81. Approximately 2,178,518 shares changed hands during trading, an increase of 200% from the average daily volume of 726,791 shares. The stock had previously closed at $34.01.

AIMC has been the subject of several research analyst reports. Sidoti upgraded shares of Altra Industrial Motion from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Thursday, August 30th. Zacks Investment Research cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. ValuEngine upgraded shares of Altra Industrial Motion from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. BMO Capital Markets cut their target price on shares of Altra Industrial Motion from $56.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Finally, BidaskClub upgraded shares of Altra Industrial Motion from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 18th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.80.

The company has a market cap of $2.19 billion, a P/E ratio of 15.52 and a beta of 1.80. The company has a current ratio of 2.34, a quick ratio of 1.35 and a debt-to-equity ratio of 0.61.

Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The firm had revenue of $228.48 million for the quarter, compared to analyst estimates of $225.89 million. Altra Industrial Motion had a net margin of 5.68% and a return on equity of 17.72%. As a group, equities research analysts expect that Altra Industrial Motion Corp will post 2.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Monday, December 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, December 14th. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 33.17%.

In other Altra Industrial Motion news, Chairman Carl R. Christenson purchased 5,000 shares of the stock in a transaction on Tuesday, October 30th. The shares were purchased at an average price of $31.44 per share, with a total value of $157,200.00. Following the acquisition, the chairman now directly owns 96,697 shares of the company’s stock, valued at approximately $3,040,153.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in Altra Industrial Motion by 0.4% in the 2nd quarter. Northern Trust Corp now owns 368,856 shares of the industrial products company’s stock valued at $15,898,000 after buying an additional 1,596 shares during the period. WealthTrust Fairport LLC increased its holdings in Altra Industrial Motion by 131.4% in the 2nd quarter. WealthTrust Fairport LLC now owns 3,934 shares of the industrial products company’s stock valued at $170,000 after buying an additional 2,234 shares during the period. California Public Employees Retirement System increased its holdings in Altra Industrial Motion by 9.5% in the 2nd quarter. California Public Employees Retirement System now owns 56,167 shares of the industrial products company’s stock valued at $2,421,000 after buying an additional 4,850 shares during the period. Zebra Capital Management LLC increased its holdings in Altra Industrial Motion by 13.2% in the 2nd quarter. Zebra Capital Management LLC now owns 18,838 shares of the industrial products company’s stock valued at $812,000 after buying an additional 2,193 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Altra Industrial Motion by 316.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,094 shares of the industrial products company’s stock valued at $176,000 after buying an additional 3,111 shares during the period.

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About Altra Industrial Motion (NASDAQ:AIMC)

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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