Altra Industrial Motion Corp. (AIMC) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) from a buy rating to a hold rating in a research note released on Monday, July 10th.

According to Zacks, “Over the last one year, Altra Industrial's shares have outperformed the Zacks categorized Machinery industry. Also, the company holds solid potential for organic and inorganic growth. For instance, the Stromag acquisition (completed in January) is predicted to be earnings accretive in 2017. Moreover, the company has been progressing well on its restructuring and cost-saving strategies. For 2017, the company raised its non-GAAP earnings guidance to $1.83-$1.93 per share from the earlier forecast of $1.75-$1.85. Revenue projection has been revised to $840-$855 million from the previous projection of $835-$855 million. However, the company is exposed to risks arising from high debt levels, stiff competition, geopolitical issues as well as adverse foreign currency movements. Over the last 60 days, earnings estimates on the stock remained stable for 2017 and 2018.”

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Altra Industrial Motion Corp. from a hold rating to a sell rating in a research note on Saturday, June 24th. BMO Capital Markets increased their price objective on shares of Altra Industrial Motion Corp. from $46.00 to $49.00 and gave the company an outperform rating in a research report on Monday, May 1st. TheStreet upgraded shares of Altra Industrial Motion Corp. from a c+ rating to a b rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC increased their price objective on shares of Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the company a hold rating in a research report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $47.33.

Altra Industrial Motion Corp. (AIMC) traded up 0.57% during trading on Monday, hitting $44.20. The stock had a trading volume of 147,858 shares. The firm has a 50 day moving average price of $40.96 and a 200-day moving average price of $40.06. Altra Industrial Motion Corp. has a 1-year low of $26.24 and a 1-year high of $46.90. The firm has a market capitalization of $1.30 billion, a PE ratio of 36.96 and a beta of 1.67.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. The business had revenue of $223.35 million for the quarter, compared to analysts’ expectations of $219.15 million. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 16.50%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, equities research analysts expect that Altra Industrial Motion Corp. will post $2.04 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.68 annualized dividend and a yield of 1.54%. Altra Industrial Motion Corp.’s payout ratio is presently 59.13%.

In other news, Director Lyle G. Ganske sold 10,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $45.30, for a total value of $453,000.00. Following the completion of the sale, the director now directly owns 11,493 shares of the company’s stock, valued at $520,632.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Todd Patriacca sold 1,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $42.00, for a total transaction of $42,000.00. Following the completion of the sale, the vice president now directly owns 29,371 shares of the company’s stock, valued at $1,233,582. The disclosure for this sale can be found here. Insiders sold 21,000 shares of company stock worth $935,000 over the last quarter. Insiders own 3.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AIMC. Bbva Compass Bancshares Inc. raised its stake in Altra Industrial Motion Corp. by 4.6% in the first quarter. Bbva Compass Bancshares Inc. now owns 7,098 shares of the industrial products company’s stock valued at $277,000 after buying an additional 311 shares during the period. Putnam Investments LLC raised its stake in Altra Industrial Motion Corp. by 1.7% in the fourth quarter. Putnam Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $812,000 after buying an additional 366 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Altra Industrial Motion Corp. by 6.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,353 shares of the industrial products company’s stock valued at $286,000 after buying an additional 425 shares during the period. Legal & General Group Plc raised its stake in Altra Industrial Motion Corp. by 10.7% in the second quarter. Legal & General Group Plc now owns 6,799 shares of the industrial products company’s stock valued at $271,000 after buying an additional 659 shares during the period. Finally, Sei Investments Co. raised its stake in Altra Industrial Motion Corp. by 3.0% in the second quarter. Sei Investments Co. now owns 23,737 shares of the industrial products company’s stock valued at $945,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 98.21% of the company’s stock.

Altra Industrial Motion Corp. Company Profile

Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. It manufactures a range of couplings suitable for various industrial and specialty applications.

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