Altra Industrial Motion (NASDAQ:AIMC) issued its earnings results on Thursday. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.08), Briefing.com reports. The company had revenue of $466.50 million during the quarter, compared to analyst estimates of $488.01 million. Altra Industrial Motion had a net margin of 4.34% and a return on equity of 11.72%. The business’s revenue for the quarter was up 96.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. Altra Industrial Motion updated its FY19 guidance to $2.81-2.97 EPS.
AIMC traded down $0.03 on Friday, hitting $28.55. 495,330 shares of the company’s stock were exchanged, compared to its average volume of 470,579. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 9.98 and a beta of 1.98. Altra Industrial Motion has a twelve month low of $23.52 and a twelve month high of $46.35. The company’s fifty day simple moving average is $34.70. The company has a current ratio of 2.06, a quick ratio of 1.37 and a debt-to-equity ratio of 0.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.68 annualized dividend and a yield of 2.38%. Altra Industrial Motion’s dividend payout ratio (DPR) is 23.78%.
A number of equities research analysts have recently issued reports on AIMC shares. ValuEngine lowered shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub upgraded shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Wednesday. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Friday, April 26th. KeyCorp upped their target price on shares of Tempur Sealy International from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Altra Industrial Motion has an average rating of “Hold” and a consensus target price of $47.50.
In related news, CFO Christian Storch sold 18,574 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.23, for a total transaction of $691,510.02. Following the completion of the sale, the chief financial officer now directly owns 26,528 shares in the company, valued at $987,637.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lipscomb S. Michael bought 13,000 shares of Altra Industrial Motion stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average price of $37.30 per share, with a total value of $484,900.00. Following the completion of the acquisition, the director now directly owns 27,290 shares of the company’s stock, valued at approximately $1,017,917. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Rothschild & Co. Asset Management US Inc. purchased a new stake in shares of Altra Industrial Motion in the 2nd quarter valued at approximately $34,320,000. Fox Run Management L.L.C. acquired a new position in shares of Altra Industrial Motion during the 2nd quarter worth $636,000. First Trust Advisors LP acquired a new position in shares of Altra Industrial Motion during the 1st quarter worth $434,000. Commonwealth Equity Services LLC acquired a new position in shares of Altra Industrial Motion during the 2nd quarter worth $334,000. Finally, Diversified Trust Co acquired a new position in shares of Altra Industrial Motion during the 2nd quarter worth $325,000.
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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