BBVA USA Bancshares Inc. raised its position in Altra Industrial Motion Corp (NASDAQ:AIMC) by 52.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,786 shares of the industrial products company’s stock after buying an additional 4,071 shares during the quarter. BBVA USA Bancshares Inc.’s holdings in Altra Industrial Motion were worth $326,000 at the end of the most recent reporting period.
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A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. acquired a new stake in Altra Industrial Motion during the second quarter worth approximately $208,095,000. BlackRock Inc. bought a new stake in Altra Industrial Motion during the second quarter valued at about $165,370,000. Silvercrest Asset Management Group LLC bought a new stake in Altra Industrial Motion during the second quarter valued at about $127,345,000. Wasatch Advisors Inc. purchased a new position in Altra Industrial Motion in the second quarter worth about $123,431,000. Finally, JPMorgan Chase & Co. purchased a new position in Altra Industrial Motion in the second quarter worth about $76,617,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Altra Industrial Motion stock opened at $33.26 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.09 and a quick ratio of 1.40. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 11.63 and a beta of 1.94. The firm has a 50 day simple moving average of $30.14 and a 200-day simple moving average of $30.66. Altra Industrial Motion Corp has a 1-year low of $23.52 and a 1-year high of $38.15.
Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The firm had revenue of $442.90 million during the quarter, compared to analysts’ expectations of $443.70 million. Altra Industrial Motion had a net margin of 4.56% and a return on equity of 9.83%. The firm’s quarterly revenue was up 93.8% on a year-over-year basis. During the same quarter last year, the company posted $0.71 EPS. Equities analysts expect that Altra Industrial Motion Corp will post 2.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 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 2.04%. The ex-dividend date is Tuesday, December 17th. Altra Industrial Motion’s payout ratio is currently 23.78%.
Several research analysts have issued reports on AIMC shares. ValuEngine lowered Altra Industrial Motion from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Sidoti dropped their target price on Altra Industrial Motion from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, September 27th. TheStreet lowered Altra Industrial Motion from a “b-” rating to a “c+” rating in a research report on Monday, August 12th. Finally, BidaskClub upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $46.67.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.
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