Altra Industrial Motion Corp (NASDAQ:AIMC) – Analysts at KeyCorp issued their Q2 2020 earnings estimates for Altra Industrial Motion in a report issued on Wednesday, July 8th. KeyCorp analyst J. Hammond expects that the industrial products company will earn $0.34 per share for the quarter. KeyCorp has a “Overweight” rating and a $34.00 price target on the stock.

Altra Industrial Motion (NASDAQ:AIMC) last released its earnings results on Thursday, April 30th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. The company had revenue of $434.20 million during the quarter, compared to analyst estimates of $418.48 million. Altra Industrial Motion had a positive return on equity of 9.41% and a negative net margin of 1.38%. Altra Industrial Motion’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share.

Several other research firms have also issued reports on AIMC. Rosenblatt Securities upped their target price on Altra Industrial Motion from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, June 15th. BidaskClub downgraded Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. ValuEngine upgraded Altra Industrial Motion from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. TheStreet upgraded Altra Industrial Motion from a “d+” rating to a “c-” rating in a research report on Friday, June 12th. Finally, Zacks Investment Research upgraded Altra Industrial Motion from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research report on Friday, June 5th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Altra Industrial Motion has a consensus rating of “Hold” and an average target price of $35.14.

AIMC stock opened at $31.16 on Monday. The firm has a market cap of $1.97 billion, a PE ratio of -81.98, a P/E/G ratio of 1.09 and a beta of 2.54. The company has a quick ratio of 1.80, a current ratio of 2.48 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average of $31.26 and a 200-day moving average of $28.68. Altra Industrial Motion has a 12-month low of $12.00 and a 12-month high of $38.43.

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Thursday, June 18th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.51%. Altra Industrial Motion’s payout ratio is 5.59%.

In other Altra Industrial Motion news, CFO Christian Storch sold 8,922 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $28.40, for a total transaction of $253,384.80. Following the sale, the chief financial officer now owns 16,468 shares in the company, valued at $467,691.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Wasatch Advisors Inc. grew its stake in shares of Altra Industrial Motion by 16.7% in the first quarter. Wasatch Advisors Inc. now owns 4,368,192 shares of the industrial products company’s stock worth $76,400,000 after purchasing an additional 623,736 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Altra Industrial Motion by 33.6% in the first quarter. Thrivent Financial for Lutherans now owns 3,957,687 shares of the industrial products company’s stock worth $69,220,000 after purchasing an additional 994,749 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of Altra Industrial Motion by 3.0% in the first quarter. Champlain Investment Partners LLC now owns 2,937,905 shares of the industrial products company’s stock worth $51,384,000 after purchasing an additional 86,205 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Altra Industrial Motion by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 2,879,509 shares of the industrial products company’s stock worth $50,363,000 after purchasing an additional 189,305 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Altra Industrial Motion by 10.9% in the fourth quarter. Macquarie Group Ltd. now owns 2,399,486 shares of the industrial products company’s stock worth $86,885,000 after purchasing an additional 236,000 shares during the last quarter. 99.26% of the stock is currently owned by hedge funds and other institutional investors.

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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