Altra Industrial Motion Corp (NASDAQ:AIMC) to Issue $0.17 Quarterly Dividend

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.

Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. Altra Industrial Motion had a net margin of 4.34% and a return on equity of 11.72%. The company had revenue of $482.80 million during the quarter, compared to the consensus estimate of $475.58 million. During the same period in the prior year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was up 100.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Altra Industrial Motion will post 3.17 EPS for the current year.

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.

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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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Dividend History for Altra Industrial Motion (NASDAQ:AIMC)

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