New York State Common Retirement Fund increased its stake in Altra Industrial Motion Corp (NASDAQ:AIMC) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,694 shares of the industrial products company’s stock after purchasing an additional 21,674 shares during the period. New York State Common Retirement Fund owned 1.48% of Altra Industrial Motion worth $20,861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AIMC. Vanguard Group Inc. lifted its stake in Altra Industrial Motion by 9.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock valued at $88,739,000 after acquiring an additional 189,048 shares during the period. JPMorgan Chase & Co. lifted its stake in Altra Industrial Motion by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,749,808 shares of the industrial products company’s stock valued at $69,642,000 after acquiring an additional 23,428 shares during the period. Victory Capital Management Inc. lifted its stake in Altra Industrial Motion by 28.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,579,701 shares of the industrial products company’s stock valued at $75,984,000 after acquiring an additional 348,393 shares during the period. Earnest Partners LLC lifted its stake in Altra Industrial Motion by 0.7% during the 2nd quarter. Earnest Partners LLC now owns 1,558,545 shares of the industrial products company’s stock valued at $62,030,000 after acquiring an additional 11,531 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Altra Industrial Motion by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,301,192 shares of the industrial products company’s stock valued at $51,787,000 after acquiring an additional 17,428 shares during the period. Institutional investors own 99.25% of the company’s stock.

Altra Industrial Motion Corp (NASDAQ:AIMC) opened at $47.80 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.57 and a current ratio of 2.69. The firm has a market cap of $1,380.33, a P/E ratio of 23.69 and a beta of 1.66. Altra Industrial Motion Corp has a 1-year low of $34.80 and a 1-year high of $50.00.

Altra Industrial Motion (NASDAQ:AIMC) last posted its earnings results on Friday, October 20th. The industrial products company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. The firm had revenue of $214.60 million during the quarter, compared to analyst estimates of $210.79 million. Altra Industrial Motion had a net margin of 4.92% and a return on equity of 16.30%. The business’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. sell-side analysts anticipate that Altra Industrial Motion Corp will post 2.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 18th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, December 15th. Altra Industrial Motion’s dividend payout ratio (DPR) is 48.23%.

Several analysts have commented on the stock. ValuEngine cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Sidoti cut shares of Altra Industrial Motion from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Robert W. Baird restated a “hold” rating and set a $48.00 price objective on shares of Altra Industrial Motion in a research note on Wednesday, October 4th. Zacks Investment Research cut shares of Altra Industrial Motion from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, BMO Capital Markets restated a “buy” rating and set a $53.00 price objective on shares of Altra Industrial Motion in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $49.20.

In other news, Chairman Carl R. Christenson sold 10,000 shares of Altra Industrial Motion stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. Following the completion of the transaction, the chairman now directly owns 98,805 shares of the company’s stock, valued at approximately $4,643,835. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Craig Schuele sold 1,685 shares of Altra Industrial Motion stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $50.00, for a total transaction of $84,250.00. Following the transaction, the vice president now directly owns 71,201 shares of the company’s stock, valued at $3,560,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,785 shares of company stock valued at $1,767,549. Insiders own 3.20% of the company’s stock.

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About Altra Industrial Motion

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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Institutional Ownership by Quarter for Altra Industrial Motion (NASDAQ:AIMC)

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