Spitfire Capital Lowers stake in Altra Industrial Motion Corp (AIMC)

Altra Industrial Motion Corp (AIMC) : Spitfire Capital reduced its stake in Altra Industrial Motion Corp by 4.49% during the most recent quarter end. The investment management company now holds a total of 368,272 shares of Altra Industrial Motion Corp which is valued at $10,562,041 after selling 17,295 shares in Altra Industrial Motion Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Altra Industrial Motion Corp makes up approximately 4.43% of Spitfire Capital’s portfolio.

Other Hedge Funds, Including , Citadel Advisors added AIMC to its portfolio by purchasing 12,975 company shares during the most recent quarter which is valued at $372,123.Vanguard Group Inc boosted its stake in AIMC in the latest quarter, The investment management firm added 51,063 additional shares and now holds a total of 1,837,326 shares of Altra Industrial Motion Corp which is valued at $52,694,510. Capital Fund Management S.a. sold out all of its stake in AIMC during the most recent quarter. The investment firm sold 9,900 shares of AIMC which is valued $285,714. Nordea Investment Management Ab added AIMC to its portfolio by purchasing 17,054 company shares during the most recent quarter which is valued at $486,551.

Altra Industrial Motion Corp opened for trading at $28.52 and hit $28.84 on the upside on Monday, eventually ending the session at $28.66, with a gain of 0.46% or 0.13 points. The heightened volatility saw the trading volume jump to 41,287 shares. Company has a market cap of $742 M.

On the company’s financial health, Altra Industrial Motion Corp reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.38. The company had revenue of $182.67 million for the quarter, compared to analysts expectations of $183.62 million. The company’s revenue was down -7.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.

Investors should note that on Jul 20, 2016, Altra Industrial Motion Corp announced a cash dividend of $0.1500. The company’s management has announced Sep 15, 2016 as the ex-dividend date and fixed the record date on Sep 19, 2016. The payable date has been fixed on Oct 4, 2016.

Altra Industrial Motion Corp. is a global designer producer and marketer of a range of mechanical power transmission components. The Company’s product portfolio includes clutches and brakes couplings and gearing and power transmission components. It operates in three segments: couplings clutches and brakes and gearing and power transmission components. The Company’s various coupling products include gear couplings diaphragm and disc couplings elastomeric couplings miniature and precision couplings as well as universal joints mill spindles and shaft locking devices. Its clutches and brakes products include electromagnetic clutch and brakes overrunning clutches and heavy duty clutches and brakes. Its gearing and power transmission components include gears bearing assemblies and belted drives. The Company offers its products under various brand names such as Ameridrives Ameridrives Power Transmission Bibby Warner Electric Inertia Dynamics and Matrix among others.

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