Altra Industrial Motion (NASDAQ:AIMC) Reaches New 52-Week High After Earnings Beat

Share on StockTwits

Altra Industrial Motion Corp (NASDAQ:AIMC) shares reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $38.37 and last traded at $37.82, with a volume of 25521 shares changing hands. The stock had previously closed at $35.16.

The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Altra Industrial Motion had a net margin of 4.56% and a return on equity of 9.83%. The company had revenue of $441.90 million for the quarter, compared to analysts’ expectations of $440.80 million. During the same quarter in the previous year, the company posted $0.65 EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, March 18th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.68 annualized dividend and a yield of 1.87%. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 23.78%.

Several brokerages have issued reports on AIMC. BidaskClub cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. ValuEngine cut shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $46.67.

In other Altra Industrial Motion news, Director Larry Mcpherson sold 8,036 shares of Altra Industrial Motion stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $33.25, for a total transaction of $267,197.00. Following the sale, the director now owns 8,509 shares of the company’s stock, valued at approximately $282,924.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in shares of Altra Industrial Motion by 9.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,962,938 shares of the industrial products company’s stock worth $107,288,000 after acquiring an additional 256,568 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Altra Industrial Motion by 14.7% during the 4th quarter. Champlain Investment Partners LLC now owns 2,851,700 shares of the industrial products company’s stock worth $103,260,000 after acquiring an additional 365,805 shares during the period. Earnest Partners LLC raised its holdings in shares of Altra Industrial Motion by 20.0% during the 4th quarter. Earnest Partners LLC now owns 2,361,024 shares of the industrial products company’s stock worth $85,493,000 after acquiring an additional 392,986 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Altra Industrial Motion by 13,880.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,521,530 shares of the industrial products company’s stock worth $50,606,000 after acquiring an additional 1,510,647 shares during the period. Finally, State Street Corp raised its holdings in shares of Altra Industrial Motion by 1.7% during the 4th quarter. State Street Corp now owns 1,310,696 shares of the industrial products company’s stock worth $47,684,000 after acquiring an additional 22,252 shares during the period.

The company has a current ratio of 2.09, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average price of $35.59 and a 200 day moving average price of $30.96. The firm has a market cap of $2.25 billion, a PE ratio of 27.58 and a beta of 1.96.

Altra Industrial Motion Company Profile (NASDAQ:AIMC)

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.

Featured Article: Why do companies engage in swaps?

Receive News & Ratings for Altra Industrial Motion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altra Industrial Motion and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Zacks Investment Research Downgrades Aramark  to Hold
Zacks Investment Research Downgrades Aramark to Hold
Brokerages Set Andersons Inc  PT at $21.50
Brokerages Set Andersons Inc PT at $21.50
Union Bankshares Corporation  Receives $39.50 Average Price Target from Analysts
Union Bankshares Corporation Receives $39.50 Average Price Target from Analysts
American National BankShares Inc  Receives $39.00 Consensus PT from Analysts
American National BankShares Inc Receives $39.00 Consensus PT from Analysts
United Bankshares, Inc.  Receives $40.38 Average Price Target from Brokerages
United Bankshares, Inc. Receives $40.38 Average Price Target from Brokerages
BankUnited  Expected to Announce Earnings of $0.72 Per Share
BankUnited Expected to Announce Earnings of $0.72 Per Share


 
© 2006-2020 Zolmax.