Price Action Alert: Will Altra Industrial Motion Corp Run Out of Steam Soon?

Price Action Alert: Will Altra Industrial Motion Corp Run Out of Steam Soon?

The stock of Altra Industrial Motion Corp (NASDAQ:AIMC) hit a new 52-week high and has $48.11 target or 62.00% above today’s $29.70 share price. The 6 months bullish chart indicates low risk for the $768.76 million company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $48.11 price target is reached, the company will be worth $476.63M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 106,064 shares traded hands. Altra Industrial Motion Corp (NASDAQ:AIMC) has risen 7.10% since April 5, 2016 and is uptrending. It has outperformed by 5.15% the S&P500.

Altra Industrial Motion Corp (NASDAQ:AIMC) Ratings Coverage

Out of 2 analysts covering Altra Holdings (NASDAQ:AIMC), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Altra Holdings has been the topic of 3 analyst reports since February 4, 2016 according to StockzIntelligence Inc. The rating was initiated by BMO Capital Markets on Tuesday, April 5 with “Outperform”.

According to Zacks Investment Research, “Altra Industrial Motion Corp. is a designer, producer and marketer of electromechanical power transmission products. The Company’s product portfolio includes industrial clutches and brakes, enclosed gear drives, open gearing, couplings, engineered bearing assemblies, linear components and other related products. Its brand include Ameridrives Couplings, Bauer Gear Motor, Bibby Turboflex, Boston Gear, Delroyd Worm Gear, Formsprag Clutch, Guardian Couplings, Huco, Industrial Clutch, Inertia Dynamics, Kilian Manufacturing, Lamiflex Couplings, Marland Clutch, Matrix, Nuttall Gear, Stieber Clutch, Svendborg Brakes, TB Wood’s, Twiflex, Warner Electric, Warner Linear and Wichita Clutch. Altra Industrial Motion Corp., formerly known as Altra Holdings, Inc., is headquartered in Braintree, Massachusetts.”

Insitutional Activity: The institutional sentiment decreased to 0.82 in 2016 Q2. Its down 0.86, from 1.68 in 2016Q1. The ratio turned negative, as 13 funds sold all Altra Industrial Motion Corp shares owned while 44 reduced positions. 11 funds bought stakes while 36 increased positions. They now own 26.41 million shares or 5.84% less from 28.05 million shares in 2016Q1.
Tiaa Cref Investment Management Limited Liability holds 0% or 76,784 shares in its portfolio. Piermont Capital Mgmt Inc reported 29,935 shares or 0.21% of all its holdings. Renaissance Technologies Ltd Com accumulated 0.01% or 195,300 shares. Aqr Llc last reported 0% of its portfolio in the stock. Lsv Asset Mgmt has 18,100 shares for 0% of their US portfolio. Teachers Advsrs Inc owns 40,696 shares or 0% of their US portfolio. Loomis Sayles & L P holds 171,196 shares or 0.01% of its portfolio. Spitfire Llc holds 4.62% of its portfolio in Altra Industrial Motion Corp (NASDAQ:AIMC) for 368,272 shares. Ig Inv Management Ltd has 37,647 shares for 0% of their US portfolio. Springbok Cap Limited Liability, a New York-based fund reported 2,400 shares. The Illinois-based Envestnet Asset Mgmt has invested 0% in Altra Industrial Motion Corp (NASDAQ:AIMC). Earnest Prtnrs Ltd Liability Co accumulated 1.74M shares or 0.51% of the stock. Parametric Associates Lc, a Washington-based fund reported 64,995 shares. Principal Financial Grp Incorporated has 0% invested in the company for 7,576 shares. Teacher Retirement Of Texas, a Texas-based fund reported 3,637 shares.

Insider Transactions: Since May 13, 2016, the stock had 0 insider buys, and 11 selling transactions for $3.07 million net activity. On Thursday, August 11 Christenson Carl R sold $758,695 worth of the stock or 26,500 shares. Ferris Gerald P had sold 5,000 shares worth $150,000 on Friday, October 21. The insider Ganske Lyle G. sold 5,000 shares worth $143,165. The insider WOODWARD JAMES H JR sold 8,847 shares worth $250,691. DEEGAN GLENN E. sold 2,500 shares worth $72,523. STORCH CHRISTIAN sold 7,531 shares worth $221,889. Schuele Craig sold $75,000 worth of stock or 2,500 shares.

More news for Altra Industrial Motion Corp (NASDAQ:AIMC) were recently published by: Marketwatch.com, which released: “Altra Industrial Motion Corp.” on December 09, 2010. Globenewswire.com‘s article titled: “Altra Industrial Motion Corp. to Host Conference Call on Third Quarter 2016 …” and published on October 11, 2016 is yet another important article.

AIMC Company Profile

Altra Industrial Motion Corp., incorporated on October 20, 2004, is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Firm operates through three divisions: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. The Company’s products are used to control and transmit power and torque in virtually any industrial application involving movement. The Company’s product portfolio includes clutches and brakes, couplings and gearing, and power transmission components. The Company’s products are used in a range of manufacturing processes. The Company’s products are also used in non-manufacturing applications, such as clutches and brakes for elevators, and residential and commercial lawnmowers. The Company’s products serve a range of end markets, including energy, general industrial, material handling, mining, transportation, and turf and garden.

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