Altra Industrial Motion Corp (NASDAQ:AIMC) shares fell 7.7% during mid-day trading on Wednesday . The company traded as low as $29.18 and last traded at $29.24. 731,552 shares were traded during mid-day trading, an increase of 9% from the average session volume of 671,218 shares. The stock had previously closed at $31.67.

A number of brokerages recently issued reports on AIMC. Zacks Investment Research lowered shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. BMO Capital Markets dropped their price objective on shares of Altra Industrial Motion from $56.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 26th. ValuEngine lowered shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a report on Friday, October 19th. BidaskClub upgraded shares of Altra Industrial Motion from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 18th. Finally, Sidoti upgraded shares of Altra Industrial Motion from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, August 30th. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Altra Industrial Motion presently has an average rating of “Hold” and an average target price of $49.80.

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.35 and a current ratio of 2.34. The firm has a market capitalization of $2.03 billion, a PE ratio of 14.26 and a beta of 1.80.

Altra Industrial Motion (NASDAQ:AIMC) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. Altra Industrial Motion had a net margin of 5.68% and a return on equity of 17.72%. The firm had revenue of $228.48 million during the quarter, compared to analyst estimates of $225.89 million. As a group, equities analysts forecast that Altra Industrial Motion Corp will post 2.39 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Monday, December 17th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.68 annualized dividend and a yield of 2.33%. Altra Industrial Motion’s payout ratio is 33.17%.

In other news, Chairman Carl R. Christenson purchased 5,000 shares of the stock in a transaction on Tuesday, October 30th. The stock was purchased at an average price of $31.44 per share, for a total transaction of $157,200.00. Following the acquisition, the chairman now owns 96,697 shares in the company, valued at $3,040,153.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. WealthTrust Fairport LLC grew its position in shares of Altra Industrial Motion by 131.4% during the 2nd quarter. WealthTrust Fairport LLC now owns 3,934 shares of the industrial products company’s stock worth $170,000 after buying an additional 2,234 shares during the period. Earnest Partners LLC grew its position in shares of Altra Industrial Motion by 0.6% during the 2nd quarter. Earnest Partners LLC now owns 1,951,449 shares of the industrial products company’s stock worth $84,107,000 after buying an additional 11,332 shares during the period. California Public Employees Retirement System grew its position in shares of Altra Industrial Motion by 9.5% during the 2nd quarter. California Public Employees Retirement System now owns 56,167 shares of the industrial products company’s stock worth $2,421,000 after buying an additional 4,850 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Altra Industrial Motion by 316.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,094 shares of the industrial products company’s stock worth $176,000 after buying an additional 3,111 shares during the period. Finally, Sei Investments Co. grew its position in shares of Altra Industrial Motion by 11.7% during the 2nd quarter. Sei Investments Co. now owns 96,791 shares of the industrial products company’s stock worth $4,172,000 after buying an additional 10,127 shares during the period. Hedge funds and other institutional investors own 91.85% of the company’s stock.

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About Altra Industrial Motion (NASDAQ:AIMC)

Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.

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