New York State Common Retirement Fund boosted its holdings in shares of Altra Industrial Motion Corp (NASDAQ:AIMC) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 638,217 shares of the industrial products company’s stock after buying an additional 30,294 shares during the quarter. New York State Common Retirement Fund owned approximately 0.99% of Altra Industrial Motion worth $11,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE increased its position in Altra Industrial Motion by 20.5% during the fourth quarter. Bank of America Corp DE now owns 348,941 shares of the industrial products company’s stock worth $12,635,000 after buying an additional 59,296 shares during the last quarter. Nuveen Asset Management LLC increased its position in Altra Industrial Motion by 10.7% during the fourth quarter. Nuveen Asset Management LLC now owns 487,982 shares of the industrial products company’s stock worth $17,669,000 after buying an additional 47,092 shares during the last quarter. Geode Capital Management LLC increased its position in Altra Industrial Motion by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 882,971 shares of the industrial products company’s stock worth $31,972,000 after buying an additional 29,779 shares during the last quarter. Macquarie Group Ltd. increased its position in Altra Industrial Motion by 10.9% during the fourth quarter. Macquarie Group Ltd. now owns 2,399,486 shares of the industrial products company’s stock worth $86,885,000 after buying an additional 236,000 shares during the last quarter. Finally, Brinker Capital Inc. increased its position in Altra Industrial Motion by 5.8% during the first quarter. Brinker Capital Inc. now owns 29,474 shares of the industrial products company’s stock worth $516,000 after buying an additional 1,608 shares during the last quarter.

In other news, CEO Carl R. Christenson acquired 4,956 shares of the stock in a transaction on Tuesday, March 10th. The stock was acquired at an average cost of $23.34 per share, for a total transaction of $115,673.04. Following the completion of the transaction, the chief executive officer now directly owns 77,556 shares in the company, valued at $1,810,157.04. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Carl R. Christenson acquired 2,802 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $19.95 per share, with a total value of $55,899.90. Following the completion of the transaction, the chief executive officer now owns 77,556 shares of the company’s stock, valued at $1,547,242.20. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. KeyCorp boosted their price objective on Altra Industrial Motion from $25.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. BidaskClub upgraded Altra Industrial Motion from a “sell” rating to a “hold” rating in a report on Thursday, May 7th. ValuEngine upgraded Altra Industrial Motion from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 18th. Zacks Investment Research cut Altra Industrial Motion from a “hold” rating to a “strong sell” rating and set a $22.00 price objective for the company. in a report on Thursday, April 9th. Finally, Needham & Company LLC assumed coverage on Altra Industrial Motion in a report on Tuesday, April 28th. They set a “neutral” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Altra Industrial Motion currently has an average rating of “Hold” and an average price target of $32.71.

Shares of AIMC stock opened at $28.92 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.80 and a debt-to-equity ratio of 0.96. The stock has a market cap of $1.87 billion, a P/E ratio of 10.67 and a beta of 2.53. The stock has a 50 day simple moving average of $22.27 and a 200 day simple moving average of $29.34. Altra Industrial Motion Corp has a 1 year low of $12.00 and a 1 year high of $38.43.

Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly 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 business had revenue of $434.20 million during the quarter, compared to analysts’ expectations of $418.48 million. Altra Industrial Motion had a positive return on equity of 9.41% and a negative net margin of 1.38%. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. Analysts forecast that Altra Industrial Motion Corp will post 1.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Thursday, June 18th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, June 17th. Altra Industrial Motion’s dividend payout ratio (DPR) is currently 23.78%.

Altra Industrial Motion Profile

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

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