Analysts forecast that Altra Industrial Motion Corp. (NASDAQ:AIMC) will announce earnings per share (EPS) of $0.51 for the current quarter, according to Zacks. Three analysts have issued estimates for Altra Industrial Motion Corp.’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.53. Altra Industrial Motion Corp. reported earnings of $0.42 per share during the same quarter last year, which would indicate a positive year over year growth rate of 21.4%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, July 25th.
According to Zacks, analysts expect that Altra Industrial Motion Corp. will report full year earnings of $1.92 per share for the current financial year, with EPS estimates ranging from $1.91 to $1.93. For the next financial year, analysts expect that the company will report earnings of $2.15 per share, with EPS estimates ranging from $2.14 to $2.17. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Altra Industrial Motion Corp..
Altra Industrial Motion Corp. (NASDAQ:AIMC) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Altra Industrial Motion Corp. had a net margin of 3.58% and a return on equity of 16.20%. The company had revenue of $223.35 million during the quarter, compared to analysts’ expectations of $219.15 million. During the same quarter in the previous year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis.
AIMC has been the subject of a number of recent research reports. TheStreet upgraded shares of Altra Industrial Motion Corp. from a “c+” rating to a “b” rating in a research note on Friday, April 28th. Zacks Investment Research upgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, May 2nd. Jefferies Group LLC raised their target price on shares of Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. BMO Capital Markets raised their target price on shares of Altra Industrial Motion Corp. from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, May 1st. Finally, BidaskClub cut shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Altra Industrial Motion Corp. currently has an average rating of “Hold” and an average target price of $46.00.
Altra Industrial Motion Corp. (NASDAQ:AIMC) opened at 41.55 on Tuesday. Altra Industrial Motion Corp. has a 12-month low of $26.24 and a 12-month high of $46.90. The firm has a 50-day moving average of $41.08 and a 200-day moving average of $39.73. The stock has a market cap of $1.22 billion, a PE ratio of 41.43 and a beta of 1.66.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Friday, September 15th. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is presently 69.39%.
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In other news, Chairman Carl R. Christenson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $44.00, for a total value of $440,000.00. Following the completion of the sale, the chairman now owns 136,176 shares in the company, valued at approximately $5,991,744. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Craig Schuele sold 12,500 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $42.02, for a total transaction of $525,250.00. Following the completion of the sale, the vice president now owns 82,213 shares of the company’s stock, valued at approximately $3,454,590.26. The disclosure for this sale can be found here. Insiders sold a total of 63,500 shares of company stock valued at $2,740,050 in the last 90 days. Company insiders own 3.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AIMC. State Street Corp boosted its stake in Altra Industrial Motion Corp. by 3.5% in the fourth quarter. State Street Corp now owns 464,225 shares of the industrial products company’s stock valued at $17,131,000 after buying an additional 15,826 shares during the period. Norges Bank purchased a new stake in Altra Industrial Motion Corp. during the fourth quarter valued at approximately $982,000. Wells Fargo & Company MN boosted its stake in Altra Industrial Motion Corp. by 2.7% in the first quarter. Wells Fargo & Company MN now owns 640,923 shares of the industrial products company’s stock valued at $24,964,000 after buying an additional 16,750 shares during the period. Bbva Compass Bancshares Inc. boosted its stake in Altra Industrial Motion Corp. by 4.6% in the first quarter. Bbva Compass Bancshares Inc. now owns 7,098 shares of the industrial products company’s stock valued at $277,000 after buying an additional 311 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in Altra Industrial Motion Corp. during the first quarter valued at approximately $241,000. Institutional investors own 98.29% of the company’s stock.
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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