Envestnet Asset Management Inc. Has $6.83 Million Stock Position in Altra Industrial Motion Corp. (NASDAQ:AIMC)

Posted by Defense World Staff on Mar 2nd, 2023

Envestnet Asset Management Inc. boosted its holdings in Altra Industrial Motion Corp. (NASDAQ:AIMC – Get Rating) by 22.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203,100 shares of the industrial products company’s stock after purchasing an additional 36,908 shares during the quarter. Envestnet Asset Management Inc. owned about 0.31% of Altra Industrial Motion worth $6,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OLD National Bancorp IN bought a new stake in shares of Altra Industrial Motion during the third quarter worth about $225,000. Lazard Asset Management LLC boosted its stake in Altra Industrial Motion by 15.7% during the 2nd quarter. Lazard Asset Management LLC now owns 510,595 shares of the industrial products company’s stock valued at $17,998,000 after purchasing an additional 69,334 shares during the last quarter. Ulrich Consultants & Investment Group LLC bought a new stake in Altra Industrial Motion during the 2nd quarter worth approximately $287,000. Oppenheimer Asset Management Inc. raised its stake in shares of Altra Industrial Motion by 20.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 94,360 shares of the industrial products company’s stock worth $3,326,000 after purchasing an additional 15,986 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its holdings in shares of Altra Industrial Motion by 57.1% in the third quarter. Granite Investment Partners LLC now owns 175,833 shares of the industrial products company’s stock valued at $5,912,000 after purchasing an additional 63,910 shares in the last quarter. Institutional investors own 85.50% of the company’s stock.

Altra Industrial Motion Price Performance

Shares of NASDAQ AIMC opened at $61.52 on Thursday. Altra Industrial Motion Corp. has a twelve month low of $32.18 and a twelve month high of $61.64. The stock’s 50 day moving average price is $60.70 and its 200-day moving average price is $51.59. The company has a market capitalization of $4.01 billion, a PE ratio of 246.09, a PEG ratio of 1.20 and a beta of 2.18. The company has a quick ratio of 1.41, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Altra Industrial Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Thursday, March 16th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $0.36 dividend on an annualized basis and a yield of 0.59%. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 144.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AIMC shares. StockNews.com lowered Altra Industrial Motion from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets lowered Altra Industrial Motion from an “outperform” rating to a “market perform” rating and increased their price target for the company from $50.00 to $62.00 in a research report on Wednesday, December 21st.

Altra Industrial Motion Company Profile

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Altra Industrial Motion Corp. engages in the design, production, and marketing of electromechanical power transmission motion controls. It operates through the Power Transmission Technologies, and Automation and Specialty segments. The Power Transmission Technologies segment focuses on the production of couplings, clutches, and brakes, electromagnetic clutches and brakes, and gears.