Lazard Asset Management LLC Purchases 48,476 Shares of Altra Industrial Motion Corp. (AIMC)

Lazard Asset Management LLC grew its position in shares of Altra Industrial Motion Corp. (NASDAQ:AIMC) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 625,099 shares of the industrial products company’s stock after purchasing an additional 48,476 shares during the quarter. Lazard Asset Management LLC owned approximately 2.13% of Altra Industrial Motion Corp. worth $24,878,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its stake in shares of Altra Industrial Motion Corp. by 1.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 29,684 shares of the industrial products company’s stock worth $1,181,000 after acquiring an additional 293 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Altra Industrial Motion Corp. by 6.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,353 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 425 shares during the period. Legal & General Group Plc lifted its stake in shares of Altra Industrial Motion Corp. by 10.7% in the second quarter. Legal & General Group Plc now owns 6,799 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 659 shares during the period. Sei Investments Co. lifted its stake in shares of Altra Industrial Motion Corp. by 3.0% in the second quarter. Sei Investments Co. now owns 23,737 shares of the industrial products company’s stock worth $945,000 after acquiring an additional 700 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Altra Industrial Motion Corp. by 44.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,268 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 1,010 shares during the period. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the company. Zacks Investment Research lowered Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub lowered Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. ValuEngine raised Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Altra Industrial Motion Corp. in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $47.33.

In other Altra Industrial Motion Corp. news, VP Gerald P. Ferris sold 15,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $44.50, for a total value of $667,500.00. Following the completion of the sale, the vice president now owns 16,722 shares in the company, valued at approximately $744,129. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Carl R. Christenson sold 8,323 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $47.00, for a total value of $391,181.00. Following the completion of the sale, the chief executive officer now owns 98,805 shares of the company’s stock, valued at approximately $4,643,835. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,104 shares of company stock valued at $2,934,408. Company insiders own 3.20% of the company’s stock.

Shares of Altra Industrial Motion Corp. (NASDAQ AIMC) opened at 47.55 on Thursday. Altra Industrial Motion Corp. has a one year low of $26.95 and a one year high of $48.60. The company has a market capitalization of $1.39 billion, a P/E ratio of 39.76 and a beta of 1.64. The firm has a 50-day moving average price of $45.30 and a 200-day moving average price of $41.67.

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, topping the consensus estimate of $0.50 by $0.07. Altra Industrial Motion Corp. had a return on equity of 16.50% and a net margin of 4.17%. The business had revenue of $223.35 million during the quarter, compared to analysts’ expectations of $219.15 million. During the same quarter last year, the business posted $0.42 EPS. The business’s revenue was up 22.3% on a year-over-year basis. Equities analysts forecast that Altra Industrial Motion Corp. will post $2.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, September 15th. Altra Industrial Motion Corp.’s dividend payout ratio (DPR) is currently 59.13%.

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Altra Industrial Motion Corp. Profile

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.

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

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