Altra Industrial Motion Corp (NASDAQ:AIMC) - Analysts at KeyCorp increased their Q3 2020 earnings estimates for shares of Altra Industrial Motion in a research report issued to clients and investors on Tuesday, October 13th. KeyCorp analyst J. Hammond now anticipates that the industrial products company will earn $0.51 per share for the quarter, up from their previous forecast of $0.48. KeyCorp currently has a "Overweight" rating and a $48.00 target price on the stock. KeyCorp also issued estimates for Altra Industrial Motion's FY2020 earnings at $2.30 EPS and FY2021 earnings at $2.70 EPS. Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.34 by $0.26. Altra Industrial Motion had a negative net margin of 1.85% and a positive return on equity of 9.13%. The firm had revenue of $400.80 million for the quarter, compared to the consensus estimate of $367.98 million. During the same quarter in the previous year, the company earned $0.71 EPS. The company's revenue for the quarter was down 14.1% on a year-over-year basis.
Other equities analysts have also issued research reports about the stock. Oppenheimer upped their price objective on shares of Altra Industrial Motion from $36.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, July 27th. BMO Capital Markets increased their price target on Altra Industrial Motion from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. BidaskClub downgraded Altra Industrial Motion from a "buy" rating to a "hold" rating in a report on Tuesday, October 13th. Zacks Investment Research cut Altra Industrial Motion from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a report on Friday, October 9th. Finally, ValuEngine lowered shares of Altra Industrial Motion from a "hold" rating to a "sell" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. The stock has an average rating of "Hold" and a consensus price target of $39.33.
Altra Industrial Motion stock opened at $40.82 on Friday. The company has a market capitalization of $2.64 billion, a PE ratio of -83.31, a PEG ratio of 1.20 and a beta of 2.58. Altra Industrial Motion has a 12-month low of $12.00 and a 12-month high of $43.17. The firm's fifty day moving average is $39.31 and its 200 day moving average is $31.94. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.85.
A number of large investors have recently made changes to their positions in AIMC. Wasatch Advisors Inc. boosted its holdings in shares of Altra Industrial Motion by 4.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 4,582,236 shares of the industrial products company's stock worth $145,990,000 after buying an additional 214,044 shares during the last quarter. Macquarie Group Ltd. increased its position in Altra Industrial Motion by 7.3% in the second quarter. Macquarie Group Ltd. now owns 2,802,959 shares of the industrial products company's stock worth $89,302,000 after buying an additional 190,621 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Altra Industrial Motion by 51.5% in the second quarter. Victory Capital Management Inc. now owns 2,483,370 shares of the industrial products company's stock valued at $79,120,000 after buying an additional 843,865 shares during the period. State Street Corp lifted its position in shares of Altra Industrial Motion by 0.5% during the 1st quarter. State Street Corp now owns 1,316,960 shares of the industrial products company's stock valued at $23,254,000 after buying an additional 6,264 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Altra Industrial Motion by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 943,918 shares of the industrial products company's stock worth $16,508,000 after acquiring an additional 60,947 shares during the period.
In other news, Director Lyle G. Ganske sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $42.00, for a total value of $210,000.00. Following the completion of the transaction, the director now directly owns 22,875 shares of the company's stock, valued at $960,750. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Glenn E. Deegan sold 3,760 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $41.09, for a total value of $154,498.40. Following the sale, the vice president now directly owns 44,855 shares of the company's stock, valued at $1,843,091.95. The disclosure for this sale can be found here. Insiders have sold a total of 12,287 shares of company stock worth $491,400 over the last ninety days. Insiders own 1.20% of the company's stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 18th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Thursday, September 17th. Altra Industrial Motion's dividend payout ratio is 5.59%.
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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