The Manufacturers Life Insurance Company Increases Stake in Altra Industrial Motion Corp. (AIMC)

The Manufacturers Life Insurance Company grew its stake in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,891 shares of the industrial products company’s stock after purchasing an additional 2,393 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Altra Industrial Motion Corp. worth $872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Altra Industrial Motion Corp. by 9.3% during the second quarter. Vanguard Group Inc. now owns 2,229,616 shares of the industrial products company’s stock worth $88,739,000 after acquiring an additional 189,048 shares in the last quarter. State Street Corp boosted its stake in Altra Industrial Motion Corp. by 14.2% during the first quarter. State Street Corp now owns 530,226 shares of the industrial products company’s stock worth $20,652,000 after acquiring an additional 66,001 shares in the last quarter. Mitra Capital LLC bought a new stake in Altra Industrial Motion Corp. during the second quarter worth about $2,535,000. Geode Capital Management LLC boosted its stake in Altra Industrial Motion Corp. by 32.4% during the first quarter. Geode Capital Management LLC now owns 249,176 shares of the industrial products company’s stock worth $9,705,000 after acquiring an additional 60,972 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Altra Industrial Motion Corp. by 31.6% during the first quarter. Bank of America Corp DE now owns 241,876 shares of the industrial products company’s stock worth $9,421,000 after acquiring an additional 58,023 shares in the last quarter. 99.26% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Glenn E. Deegan sold 1,825 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $43.37, for a total transaction of $79,150.25. Following the completion of the transaction, the vice president now directly owns 41,419 shares of the company’s stock, valued at $1,796,342.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gerald P. Ferris sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $44.50, for a total transaction of $667,500.00. Following the transaction, the vice president now directly owns 16,722 shares of the company’s stock, valued at $744,129. The disclosure for this sale can be found here. Insiders sold 80,889 shares of company stock valued at $3,778,957 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Altra Industrial Motion Corp. (AIMC) opened at $46.10 on Thursday. The company has a quick ratio of 1.57, a current ratio of 2.69 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1,364.23, a PE ratio of 23.42 and a beta of 1.67. Altra Industrial Motion Corp. has a twelve month low of $34.20 and a twelve month high of $50.00.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its earnings results on Friday, October 20th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $214.60 million during the quarter, compared to analysts’ expectations of $210.79 million. Altra Industrial Motion Corp. had a net margin of 4.92% and a return on equity of 16.30%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. sell-side analysts predict that Altra Industrial Motion Corp. will post 2.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 18th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.68 annualized dividend and a yield of 1.48%. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is presently 48.23%.

AIMC has been the topic of several research reports. ValuEngine lowered shares of Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Altra Industrial Motion Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird reissued a “neutral” rating on shares of Altra Industrial Motion Corp. in a research note on Monday, October 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $53.00 target price on shares of Altra Industrial Motion Corp. in a report on Thursday, July 27th. Finally, Sidoti cut shares of Altra Industrial Motion Corp. from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a report on Wednesday, October 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.20.

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About Altra Industrial Motion Corp.

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.

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

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