$491.99 Million in Sales Expected for Altra Industrial Motion Corp (NASDAQ:AIMC) This Quarter
Equities research analysts expect that Altra Industrial Motion Corp (NASDAQ:AIMC) will post sales of $491.99 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Altra Industrial Motion’s earnings. The highest sales estimate is $493.90 million and the lowest is $490.07 million. Altra Industrial Motion posted sales of $237.32 million in the same quarter last year, which would indicate a positive year over year growth rate of 107.3%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, July 25th.
According to Zacks, analysts expect that Altra Industrial Motion will report full-year sales of $1.93 billion for the current financial year, with estimates ranging from $1.92 billion to $1.94 billion. For the next financial year, analysts forecast that the firm will report sales of $1.98 billion, with estimates ranging from $1.96 billion to $2.00 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Altra Industrial Motion.
Altra Industrial Motion (NASDAQ:AIMC) last released its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The firm had revenue of $482.80 million for the quarter, compared to analysts’ expectations of $475.58 million. Altra Industrial Motion had a return on equity of 11.72% and a net margin of 4.34%. The company’s revenue was up 100.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS.
Shares of NASDAQ AIMC traded up $0.50 during trading hours on Friday, reaching $33.68. 259,072 shares of the stock traded hands, compared to its average volume of 461,919. The stock has a market cap of $2.17 billion, a P/E ratio of 11.78 and a beta of 1.98. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.06 and a quick ratio of 1.37. Altra Industrial Motion has a 52-week low of $23.52 and a 52-week high of $46.35. The business’s 50-day moving average is $34.53.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were paid a $0.17 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.68 dividend on an annualized basis and a yield of 2.02%. Altra Industrial Motion’s dividend payout ratio (DPR) is currently 23.78%.
In related news, Director Lipscomb S. Michael purchased 13,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average cost of $37.30 per share, with a total value of $484,900.00. Following the purchase, the director now directly owns 27,290 shares of the company’s stock, valued at $1,017,917. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christian Storch sold 18,574 shares of Altra Industrial Motion stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.23, for a total value of $691,510.02. Following the completion of the transaction, the chief financial officer now directly owns 26,528 shares in the company, valued at $987,637.44. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB purchased a new position in Altra Industrial Motion in the 2nd quarter worth approximately $316,000. Diversified Trust Co bought a new stake in shares of Altra Industrial Motion in the 2nd quarter worth approximately $325,000. Commonwealth Equity Services LLC bought a new stake in shares of Altra Industrial Motion in the 2nd quarter worth approximately $334,000. First Trust Advisors LP bought a new stake in shares of Altra Industrial Motion in the 1st quarter worth approximately $434,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Altra Industrial Motion in the 2nd quarter worth approximately $636,000.
About Altra Industrial Motion
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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