Altra Industrial Motion Corp (NASDAQ:AIMC) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Stockholders of record on Tuesday, June 18th will be paid a dividend of 0.17 per share by the industrial products company on Tuesday, July 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, June 17th.
Altra Industrial Motion has raised its dividend payment by an average of 8.0% per year over the last three years and has increased its dividend every year for the last 6 years. Altra Industrial Motion has a dividend payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Altra Industrial Motion to earn $3.58 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 19.0%.
Shares of NASDAQ:AIMC opened at $35.60 on Friday. The firm has a market cap of $2.30 billion, a PE ratio of 12.71 and a beta of 1.97. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.06 and a quick ratio of 1.37. Altra Industrial Motion has a 52-week low of $23.52 and a 52-week high of $46.35.
In other Altra Industrial Motion news, CFO Christian Storch sold 18,574 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.23, for a total transaction of $691,510.02. Following the sale, the chief financial officer now owns 26,528 shares of the company’s stock, valued at $987,637.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lipscomb S. Michael purchased 13,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $37.30 per share, for a total transaction of $484,900.00. Following the transaction, the director now directly owns 27,290 shares of the company’s stock, valued at approximately $1,017,917. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.
Several analysts recently weighed in on AIMC shares. Zacks Investment Research cut shares of Altra Industrial Motion from a “hold” rating to a “strong sell” rating in a research note on Monday, February 25th. ValuEngine cut shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research note on Friday, March 1st. BidaskClub cut shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Wednesday, March 13th. Finally, TheStreet raised shares of Altra Industrial Motion from a “c+” rating to a “b” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Altra Industrial Motion currently has a consensus rating of “Hold” and a consensus price target of $49.25.
Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.
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