October 1, 2022
  • October 1, 2022

Altra Industrial Motion (NASDAQ:AIMC) shares 4.1% rise after analysts upgrade

By on July 30, 2022 0

Altra Industrial Motion Corp. (NASDAQ: AIMC – Get a rating) jumped 4.1% by midday on Friday after Robert W. Baird raised his price target on the stock from $44.00 to $48.00. The company traded as high as $40.56 and last traded at $40.56. 419 shares were traded during trading, down 100% from the average session volume of 168,434 shares. The stock previously closed at $38.96.

Separately, StockNews.com upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating in a Friday, May 6 research report.

Hedge funds weigh on Altra Industrial Motion

Several institutional investors have recently increased or reduced their stake in AIMC. Parkside Financial Bank & Trust increased its position in Altra Industrial Motion by 65.7% in Q2. Parkside Financial Bank & Trust now owns 739 shares of the industrial products company valued at $26,000 after acquiring an additional 293 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Altra Industrial Motion in Q4, valued at approximately $49,000. Meeder Asset Management Inc. acquired a new stake in Altra Industrial Motion in Q1 worth approximately $54,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Altra Industrial Motion by 45.1% in Q4. Barrow Hanley Mewhinney & Strauss LLC now owns 1,274 shares of the industrial products company valued at $66,000 after buying 396 additional shares last quarter. Finally, Quent Capital LLC purchased a new equity stake in Altra Industrial Motion during Q1 for approximately $68,000.

Altra Industrial Motion Price Performance

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The company has a 50-day moving average price of $36.92 and a 200-day moving average price of $39.96. The company has a market capitalization of $2.66 billion, a PE ratio of 77.92, a growth price-earnings ratio of 0.77 and a beta of 2.07. The company has a current ratio of 2.90, a quick ratio of 2.15 and a debt ratio of 0.69.

Altra Industrial Motion (NASDAQ: AIMC – Get a rating) last released its results on Thursday, July 28. The industrial products company reported earnings per share (EPS) of $0.84 for the quarter, meeting analyst consensus estimates of $0.84. Altra Industrial Motion achieved a return on equity of 10.54% and a net margin of 1.72%. The company posted revenue of $498.10 million for the quarter, versus analyst estimates of $475.71 million. In the same quarter of the previous year, the company achieved EPS of $0.89. Altra Industrial Motion revenue increased 1.9% year-over-year. On average, sell-side analysts expect Altra Industrial Motion Corp. posts an EPS of 3.27 for the current year.

Altra Industrial Motion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4. Shareholders of record on Friday, September 16 will receive a dividend of $0.09. The ex-dividend date is Thursday, September 15. This represents an annualized dividend of $0.36 and a yield of 0.88%. Altra Industrial Motion’s dividend payout ratio (DPR) is currently 72.00%.

Altra Industrial Motion Company Profile

(Get a rating)

Altra Industrial Motion Corp. designs, produces and markets a line of electromechanical power transmission motion control products for use in a variety of motion-related applications and in high-volume manufacturing and non-manufacturing processes. It operates in two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).

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