Traders are feeling more bullish on shares of Altra Industrial Motion Corp. of late as evidenced by the decrease in short interest. The firm saw a fall in short interest of -6.99% as of the latest report on October 13, 2017. Short interest decreased 35,077 over that timeframe. The days to cover decreased to 2.0 and the percentage of shorted shares is 0.02% as of October 13.
Here are a few substantial investment firms who have updated their positions. Victory Capital Management Inc reduced its stake by shedding 1,133,598 shares a decrease of 92.1% in the quarter. Victory Capital Management Inc currently owns 97,710 shares worth $4,700,000. The value of the position overall is down by 90.4%. As of the end of the quarter Parkside Financial Bank & Trust had sold a total of 50 shares trimming its stake by 20.4%. The value of the investment in AIMC went from $10,000 to $9,000 a change of 10.0% quarter to quarter.
As of quarter end Aperio Group, LLC had disposed of 32 shares trimming its holdings by 0.4%. The value of the investment in Altra Industrial Motion Corp. increased from $297,000 to $358,000 a change of $61,000 for the reporting period. As of the end of the quarter Simplex Trading, LLC had bought 3,503 shares growing its position 244.6%. The value of the investment in (AIMC) increased from $56,000 to $237,000 increasing 323.2% since the last quarter.
On July 26 BMO Capital kept the stock rating at “Outperform” and raised the price target from $32.00 to $53.00. October 23 investment analysts at Baird held the company rating at “Neutral” and moved up the price target to $49.00 from $28.00.
The company is so far trading up since yesterday’s close of $47.90. Altra Industrial Motion Corp. also recently announced a dividend for shareholders payable on Wednesday the 3rd of January 2018. The dividend payment will be $0.170 per share for the quarter or $0.68 on an annualized basis. This dividend represents a yield of $1.43. The ex-dividend date is as of Friday September 15th, 2017.
It is trading at $47.90 slightly over the 50 day moving average of $47.82 and marginally over the 200 day moving average of $43.74. The 50 day moving average went up $0.08 or +0.18% and the 200 day average moved up $4.16.
Altra Industrial Motion Corp.’s P/E ratio is 40.05 and the market cap is 1.40B. As of the last earnings report the EPS was $1.20 and is projected to be $2.05 for the current year with 29,309,000 shares presently outstanding. Next quarter’s EPS is expected be $0.57 and the next full year EPS is projected to be $2.33.
Altra Industrial Motion Corp., launched on October 20, 2004, is a global 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. Its products are used to control and transmit power and torque in virtually any industrial application involving movement. Its product portfolio includes clutches and brakes, couplings and gearing, and power transmission components. Its products are used in a range of manufacturing processes. Its products are also used in non-manufacturing applications, such as clutches and brakes for elevators, and residential and commercial lawnmowers. Its products serve a range of end markets, including energy, general industrial, material handling, mining, transportation, and turf and garden..