Morgan Stanley Has $4.40 Million Stake in Altra Industrial Motion Corp. (AIMC)

Morgan Stanley decreased its position in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 17.9% during the first quarter, Holdings Channel reports. The fund owned 112,915 shares of the industrial products company’s stock after selling 24,593 shares during the period. Morgan Stanley’s holdings in Altra Industrial Motion Corp. were worth $4,397,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Altra Industrial Motion Corp. during the fourth quarter worth approximately $982,000. Wells Fargo & Company MN increased its position in shares of 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 worth $24,964,000 after buying an additional 16,750 shares in the last quarter. Bbva Compass Bancshares Inc. increased its position in shares of 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 worth $277,000 after buying an additional 311 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Altra Industrial Motion Corp. during the first quarter worth about $241,000. Finally, US Bancorp DE increased its position in shares of Altra Industrial Motion Corp. by 5.8% in the first quarter. US Bancorp DE now owns 27,727 shares of the industrial products company’s stock worth $1,080,000 after buying an additional 1,521 shares in the last quarter. Institutional investors own 98.20% of the company’s stock.

Shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) remained flat at $44.05 during midday trading on Friday. 103,541 shares of the stock were exchanged. The company has a market capitalization of $1.29 billion, a P/E ratio of 36.83 and a beta of 1.67. The stock’s 50-day moving average price is $41.44 and its 200 day moving average price is $40.39. Altra Industrial Motion Corp. has a one year low of $26.24 and a one year high of $46.90.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. Altra Industrial Motion Corp. had a net margin of 4.17% and a return on equity of 16.50%. The firm had revenue of $223.35 million for the quarter, compared to analysts’ expectations of $219.15 million. During the same period in the previous year, the business earned $0.42 earnings per share. Altra Industrial Motion Corp.’s revenue for the quarter was up 22.3% compared to the same quarter last year. Equities analysts expect that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 18th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, September 15th. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is presently 59.13%.

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A number of brokerages have recently issued reports on AIMC. BMO Capital Markets increased their price target on shares of Altra Industrial Motion Corp. from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, May 1st. 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 report on Tuesday, May 2nd. TheStreet upgraded shares of Altra Industrial Motion Corp. from a “c+” rating to a “b” rating in a report on Friday, April 28th. Jefferies Group LLC increased their price target on shares of Altra Industrial Motion Corp. from $38.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 8th. Finally, BidaskClub downgraded shares of Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.33.

In other Altra Industrial Motion Corp. news, Chairman Carl R. Christenson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $44.00, for a total value of $440,000.00. Following the sale, the chairman now directly owns 136,176 shares in the company, valued at $5,991,744. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd Patriacca sold 1,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $42.00, for a total value of $42,000.00. Following the sale, the vice president now owns 29,371 shares in the company, valued at approximately $1,233,582. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,000 shares of company stock worth $935,000. 3.20% of the stock is owned by company insiders.

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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