California Public Employees Retirement System Has $2.10 Million Stake in Altra Industrial Motion Corp. (AIMC)

California Public Employees Retirement System cut its stake in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,700 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. California Public Employees Retirement System owned 0.18% of Altra Industrial Motion Corp. worth $2,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised 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 purchasing an additional 1,010 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Altra Industrial Motion Corp. by 191.6% in the second quarter. Great West Life Assurance Co. Can now owns 4,453 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 2,926 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Altra Industrial Motion Corp. by 848.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,646 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 4,156 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of Altra Industrial Motion Corp. in the first quarter worth approximately $226,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Altra Industrial Motion Corp. in the first quarter worth approximately $247,000. 98.56% of the stock is owned by hedge funds and other institutional investors.

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In related news, CEO Carl R. Christenson sold 8,323 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $47.00, for a total value of $391,181.00. Following the completion of the transaction, the chief executive officer now directly owns 98,805 shares in the company, valued at approximately $4,643,835. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Gerald P. Ferris sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $44.50, for a total transaction of $667,500.00. Following the completion of the transaction, the vice president now owns 16,722 shares of the company’s stock, valued at $744,129. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,789 shares of company stock valued at $3,774,158. 3.20% of the stock is owned by company insiders.

Altra Industrial Motion Corp. (NASDAQ:AIMC) last announced its quarterly earnings data on Friday, October 20th. The industrial products company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Altra Industrial Motion Corp. had a net margin of 4.92% and a return on equity of 16.30%. The company had revenue of $214.60 million during the quarter, compared to analyst estimates of $210.79 million. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Monday, December 18th will be issued a $0.17 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.42%. Altra Industrial Motion Corp.’s payout ratio is currently 48.23%.

Several brokerages have recently commented on AIMC. Zacks Investment Research downgraded Altra Industrial Motion Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Robert W. Baird reissued a “neutral” rating on shares of Altra Industrial Motion Corp. in a research note on Monday, October 23rd. Sidoti downgraded Altra Industrial Motion Corp. from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research note on Wednesday, October 4th. They noted that the move was a valuation call. 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 reissued 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 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 currently has a consensus rating of “Hold” and an average price target of $49.20.

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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