Altra Industrial Motion Corp (NASDAQ:AIMC) announced a quarterly dividend on Wednesday, February 13th, Wall Street Journal reports. Stockholders of record on Monday, March 18th will be given a dividend of 0.17 per share by the industrial products company on Tuesday, April 2nd. This represents a $0.68 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, March 15th.

Altra Industrial Motion has increased its dividend payment by an average of 8.0% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Altra Industrial Motion has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Altra Industrial Motion to earn $3.63 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 18.7%.

Altra Industrial Motion stock opened at $32.07 on Thursday. The stock has a market capitalization of $2.05 billion, a PE ratio of 11.21 and a beta of 1.87. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.09 and a quick ratio of 1.40. Altra Industrial Motion has a 12-month low of $23.52 and a 12-month high of $48.25.

Altra Industrial Motion (NASDAQ:AIMC) last released its earnings results on Thursday, February 21st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.06). The firm had revenue of $469.20 million during the quarter, compared to the consensus estimate of $457.57 million. Altra Industrial Motion had a return on equity of 13.06% and a net margin of 3.01%. Altra Industrial Motion’s revenue was up 110.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. Research analysts forecast that Altra Industrial Motion will post 3.16 EPS for the current year.

Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. Zacks Investment Research lowered shares of Altra Industrial Motion from a “hold” rating to a “strong sell” rating in a report on Monday, February 25th. TheStreet downgraded shares of Altra Industrial Motion from a “b-” rating to a “c+” rating in a research note on Wednesday, December 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Altra Industrial Motion in a research note on Monday, November 19th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $49.25.

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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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Dividend History for Altra Industrial Motion (NASDAQ:AIMC)

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