The Vanguard Group, Inc. has recently announced that it has increased stake in Altra Industrial Motion Corp. (NASDAQ:AIMC) by 1.97%. After grabbing 6.13 million shares, the institutional investor is now in possession of 0.12 million shares of the Industrials Company. The new investment brought the stake of investor firm to 9.41% having worth around $377.28 million. Moreover, BlackRock Fund Advisors increased its share by 3866.0 to have a control over 4.32 million shares. And Alpine Associates Management, Inc raised its holdings to 2.76 million shares by acquiring 2.76 million shares or 4.24% of the stake.
Altra Industrial Motion Corp. (AIMC) concluded trading on 03/15/23 at a closing price of $61.46, with 2.14 million shares of worth about $131.48 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 63.85% during that period and on Wednesday the price saw a loss of about -0.21%. Currently the company’s common shares owned by public are about 65.40M shares, out of which, 64.47M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the AIMC stock and their offered price forecasts bring an average price target of $62.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $62.00 and could fall to a lowest price of $62.00. The stock’s current price level is -4.01% below of average price target set by the analysts, while a dip to estimated low would result in gain of 0.87% for the stock. However, touching the estimated high of $62.00 would mean a gain of 0.87% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 44 times over the past 12 months. They bought 154,813 shares in 40 of the transactions. In 4 selling transactions, insiders dumped 14,250 shares.
Vanguard Total Stock Market Index, Delaware Small Cap Value Fund, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Altra Industrial Motion Corp. Vanguard Total Stock Market Index is currently holding 1.99 million shares of worth totaling $122.66 million. The company recently came buying 14463.0 shares which brought its stake up to 3.06% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 1.69 million shares, have now control over 2.59% of the stake in the company. It holds 9246.0 shares of worth $103.89 million.
Altra Industrial Motion Corp. (NASDAQ: AIMC) started trading at $61.49, below -$0.1 from concluding price of the previous day. However, the stock later moved at a day high price of 61.54, or with a loss of -0.21%. Stock saw a price change of -0.15% in past 5 days and over the past one month there was a price change of -0.05%. Year-to-date (YTD), AIMC shares are showing a performance of 2.86% which increased to 59.18% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $32.18 but also hit the highest price of $61.73 during that period. The average intraday trading volume for Altra Industrial Motion Corp. shares is 973.44K. The stock is currently trading -0.16% below its 20-day simple moving average (SMA20), while that difference is up 0.76% for SMA50 and it goes to 27.41% higher than SMA200.
The Vanguard Group, Inc. acquired 6.13 million shares of Altra Industrial Motion Corp. having value of about $377.28 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.12 million shares in the company valued at close to $7278154.66, or have control over 1.97% stake in the company. Altra Industrial Motion Corp. (NASDAQ: AIMC) currently have 65.40M outstanding shares and institutions hold larger chunk of about 95.82% of that. Holding of mutual funds in the company is about 44.45% while other institutional holders and individual stake holders have control over 47.83% and 16.16% of the stake respectively.
The stock has a current market capitalization of $4.01B and its 3Y-monthly beta is at 2.18. PE ratio of stock for trailing 12 months is 31.63, while it has posted earnings per share of $1.94 in the same period. Its PEG reads 2.11 and has Quick Ratio of 1.30 while making debt-to-equity ratio of 0.52. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AIMC, volatility over the week remained 0.28% while standing at 0.19% over the month.
Analysts are in expectations that Altra Industrial Motion Corp. (AIMC) stock would likely to be making an EPS of $0.76 in the current quarter, while forecast for next quarter EPS is $0.86 and it is $3.3 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.67 which is $0.85 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.67 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 358.50% while it is estimated to increase by 10.36% in next year. EPS is likely to grow at an annualized rate of 15.00% for next 5-years, compared to annual growth of 5.30% made by the stock over the past 5-years.
Analysts at 3 brokerage firms have issued recommendations for the Altra Industrial Motion Corp. (AIMC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 3 Wall Street analysts, 0 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Loop Capital on March 03, 2023 offering a Hold rating for the stock and assigned a target price of $62 to it. Coverage by BMO Capital Markets stated Altra Industrial Motion Corp. (AIMC) stock as a Market perform in their note to investors on December 21, 2022, suggesting a price target of $62 for the stock. On November 01, 2022, Robert W. Baird Downgrade their recommendations, while on August 26, 2022, Loop Capital Initiated their ratings for the stock with a price target of $58. Stock get a Sector weight rating from KeyBanc Capital Markets on January 14, 2021.
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