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 5.26% during the most recent quarter end. The investment management company now holds a total of 385,567 shares of Altra Industrial Motion Corp which is valued at $10.5 Million after selling 21,389 shares in Altra Industrial Motion Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Altra Industrial Motion Corp makes up approximately 4.89% of Spitfire Capital’s portfolio.

Other Hedge Funds, Including , Zacks Investment Management added AIMC to its portfolio by purchasing 7,321 company shares during the most recent quarter which is valued at $198,692. Altra Industrial Motion Corp makes up approx 0.01% of Zacks Investment Management’s portfolio.Blackrock Fund Advisors reduced its stake in AIMC by selling 23,491 shares or 3.64% in the most recent quarter. The Hedge Fund company now holds 622,393 shares of AIMC which is valued at $16.9 Million. Investment Counselors Of Maryland sold out all of its stake in AIMC during the most recent quarter. The investment firm sold 498,434 shares of AIMC which is valued $13.5 Million.

Altra Industrial Motion Corp opened for trading at $26.98 and hit $27.35 on the upside on Wednesday, eventually ending the session at $27.21, with a gain of 0.93% or 0.25 points. The heightened volatility saw the trading volume jump to 91,218 shares. Company has a market cap of $707 M.

On the company’s financial health, Altra Industrial Motion Corp reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.33. The company had revenue of $180.50 million for the quarter, compared to analysts expectations of $175.44 million. The company’s revenue was down -6.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.42 EPS.

Investors should note that on Apr 28, 2016, Altra Industrial Motion Corp announced a cash dividend of $0.1500. The company’s management has announced Jun 15, 2016 as the ex-dividend date and fixed the record date on Jun 17, 2016. The payable date has been fixed on Jul 5, 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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