Principal Financial Group Inc. boosted its holdings in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 12.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,114 shares of the industrial products company’s stock after acquiring an additional 1,731 shares during the period. Principal Financial Group Inc. owned 0.05% of Altra Industrial Motion Corp. worth $602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in Altra Industrial Motion Corp. by 44.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 1,010 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in Altra Industrial Motion Corp. by 191.6% in the second quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 2,926 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Altra Industrial Motion Corp. by 848.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 4,156 shares during the last quarter. Stifel Financial Corp acquired a new position in Altra Industrial Motion Corp. in the first quarter valued at approximately $226,000. Finally, Karp Capital Management Corp acquired a new position in Altra Industrial Motion Corp. in the first quarter valued at approximately $247,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

In other news, CEO Carl R. Christenson sold 1,601 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $47.00, for a total transaction of $75,247.00. Following the completion of the sale, the chief executive officer now directly owns 98,805 shares of the company’s stock, valued at approximately $4,643,835. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Carl R. Christenson sold 10,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $46.00, for a total transaction of $460,000.00. Following the sale, the chairman now directly owns 98,805 shares of the company’s stock, valued at $4,545,030. The disclosure for this sale can be found here. Insiders have sold a total of 64,104 shares of company stock valued at $2,934,408 over the last three months. Corporate insiders own 3.20% of the company’s stock.

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Altra Industrial Motion Corp. (AIMC) opened at 46.65 on Thursday. Altra Industrial Motion Corp. has a 1-year low of $27.35 and a 1-year high of $49.60. The firm has a market capitalization of $1.37 billion, a PE ratio of 39.01 and a beta of 1.67. The firm’s 50-day moving average price is $46.73 and its 200-day moving average price is $42.67.

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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 16.50%. The company had revenue of $223.35 million during the quarter, compared to analysts’ expectations of $219.15 million. During the same period in the previous year, the company earned $0.42 EPS. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, equities research analysts predict that Altra Industrial Motion Corp. will post $2.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, September 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.46%. Altra Industrial Motion Corp.’s dividend payout ratio is presently 59.13%.

A number of research analysts recently commented on the company. BMO Capital Markets reiterated a “buy” rating and issued a $53.00 price objective on shares of Altra Industrial Motion Corp. in a report on Wednesday, September 6th. ValuEngine upgraded Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Sidoti cut Altra Industrial Motion Corp. from a “buy” rating to a “neutral” rating and set a $53.00 price objective on the stock. in a report on Wednesday, October 4th. They noted that the move was a valuation call. BidaskClub cut Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Zacks Investment Research upgraded Altra Industrial Motion Corp. from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective on the stock in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $49.20.

Altra Industrial Motion Corp. 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.

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

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