Altra Industrial Motion (NASDAQ:AIMC) Hits New 1-Year Low at $33.57

Altra Industrial Motion Corp. (NASDAQ:AIMCGet Rating) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $33.57 and last traded at $33.57, with a volume of 113 shares traded. The stock had previously closed at $34.24.

AIMC has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Altra Industrial Motion from $46.00 to $51.00 in a report on Friday, April 29th. StockNews.com upgraded shares of Altra Industrial Motion from a “hold” rating to a “buy” rating in a report on Friday, May 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Altra Industrial Motion presently has a consensus rating of “Moderate Buy” and an average price target of $61.26.

The company has a debt-to-equity ratio of 0.69, a current ratio of 2.90 and a quick ratio of 2.15. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 65.14, a PEG ratio of 0.69 and a beta of 2.13. The firm’s fifty day moving average is $37.58 and its 200 day moving average is $42.58.

Altra Industrial Motion (NASDAQ:AIMCGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.71 by $0.20. The business had revenue of $511.70 million during the quarter, compared to analysts’ expectations of $490.00 million. Altra Industrial Motion had a net margin of 1.72% and a return on equity of 10.54%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. Equities research analysts forecast that Altra Industrial Motion Corp. will post 3.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Friday, June 17th will be paid a $0.09 dividend. The ex-dividend date is Thursday, June 16th. This is a boost from Altra Industrial Motion’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.11%. Altra Industrial Motion’s payout ratio is 72.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky lifted its stake in Altra Industrial Motion by 2.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 34,700 shares of the industrial products company’s stock valued at $1,351,000 after acquiring an additional 924 shares during the last quarter. Bank of America Corp DE raised its position in shares of Altra Industrial Motion by 18.4% in the first quarter. Bank of America Corp DE now owns 956,505 shares of the industrial products company’s stock valued at $37,235,000 after purchasing an additional 148,668 shares during the period. Walleye Capital LLC bought a new position in shares of Altra Industrial Motion in the first quarter valued at approximately $379,000. Point72 Hong Kong Ltd raised its position in shares of Altra Industrial Motion by 46.6% in the first quarter. Point72 Hong Kong Ltd now owns 1,385 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 440 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Altra Industrial Motion in the first quarter valued at approximately $724,000.

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 various motion-related applications, and 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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