Altra Industrial Motion Corp. (NASDAQ:AIMC) declared a quarterly dividend on Friday, July 23rd, Wall Street Journal reports. Shareholders of record on Friday, September 17th will be given a dividend of 0.08 per share by the industrial products company on Monday, October 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, September 16th.
Altra Industrial Motion has decreased its dividend by 53.0% over the last three years and has increased its dividend every year for the last 1 years. Altra Industrial Motion has a payout ratio of 9.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Altra Industrial Motion to earn $3.88 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 8.2%.
Altra Industrial Motion stock opened at $56.38 on Wednesday. The company has a market cap of $3.66 billion, a PE ratio of 24.62, a P/E/G ratio of 1.09 and a beta of 2.53. The company has a fifty day moving average price of $60.53 and a two-hundred day moving average price of $61.78. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.63. Altra Industrial Motion has a 12 month low of $36.15 and a 12 month high of $68.07.
A hedge fund recently raised its stake in Altra Industrial Motion stock. Morgan Stanley lifted its stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 152.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288,293 shares of the industrial products company’s stock after purchasing an additional 173,914 shares during the quarter. Morgan Stanley owned about 0.44% of Altra Industrial Motion worth $18,745,000 at the end of the most recent reporting period.
A number of equities research analysts have issued reports on the company. Oppenheimer reiterated a “buy” rating and issued a $72.00 target price on shares of Altra Industrial Motion in a research note on Monday, June 28th. Robert W. Baird reiterated an “outperform” rating and issued a $61.80 target price (down from $74.00) on shares of Altra Industrial Motion in a research note on Monday, July 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $60.25 target price (down from $70.00) on shares of Altra Industrial Motion in a research note on Tuesday, July 27th. Zacks Investment Research cut Altra Industrial Motion from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a research note on Tuesday. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $61.80 target price (down from $64.00) on shares of Altra Industrial Motion in a research note on Monday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $63.48.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. engages in the designs, production, and marketing of electromechanical power transmission motion control. It operates through the Power Transmission Technologies; and Automation and Specialty segments. The Power Transmission Technologies segment focuses in the production of couplings, clutches, and brakes; electromagnetic clutches and brakes; and gears.
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