Los Angeles Capital Management LLC Acquires New Holdings in Altra Industrial Motion Corp. (NASDAQ:AIMC)
Los Angeles Capital Management LLC acquired a new stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,134 shares of the industrial products company’s stock, valued at approximately $285,000.
A number of other hedge funds also recently modified their holdings of AIMC. First Trust Advisors LP bought a new stake in Altra Industrial Motion during the first quarter valued at about $434,000. Great West Life Assurance Co. Can boosted its position in Altra Industrial Motion by 108.0% during the third quarter. Great West Life Assurance Co. Can now owns 10,531 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 5,467 shares in the last quarter. Morgan Stanley boosted its position in Altra Industrial Motion by 508.0% during the third quarter. Morgan Stanley now owns 189,849 shares of the industrial products company’s stock valued at $7,019,000 after purchasing an additional 158,626 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Altra Industrial Motion in the third quarter worth about $349,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Altra Industrial Motion in the third quarter worth $257,000.
NASDAQ:AIMC opened at $60.63 on Wednesday. The company’s 50-day moving average price is $59.72 and its 200-day moving average price is $54.40. The company has a current ratio of 2.33, a quick ratio of 1.64 and a debt-to-equity ratio of 0.78. The company has a market cap of $3.93 billion, a P/E ratio of -202.09, a P/E/G ratio of 1.26 and a beta of 2.56. Altra Industrial Motion Corp. has a twelve month low of $17.37 and a twelve month high of $66.38.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 2nd. Stockholders of record on Thursday, March 18th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, March 17th. Altra Industrial Motion’s dividend payout ratio is currently 8.39%.
In other Altra Industrial Motion news, Director James H. Woodward, Jr. sold 2,378 shares of Altra Industrial Motion stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $61.13, for a total transaction of $145,367.14. Company insiders own 1.20% of the company’s stock.
Several equities analysts have issued reports on AIMC shares. Zacks Investment Research downgraded shares of Altra Industrial Motion from a “buy” rating to a “hold” rating and set a $56.00 price objective on the stock. in a report on Monday, February 15th. Robert W. Baird reaffirmed a “buy” rating on shares of Altra Industrial Motion in a report on Sunday, March 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $51.67.
About Altra Industrial Motion
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in various motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).
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