Is Altra Industrial Motion (AIMC) Stock a Buy For 2021?
Wasatch Core Growth Fund recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 26.5% for the quarter, underperforming its benchmark, the Russell 2000 Index which returned 31.4% in the same quarter. You should check out Wasatch’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q4 2020 Investor Letter, Wasatch highlighted a few stocks and Altra Industrial Motion Corp. (NASDAQ:AIMC) is one of them. Altra Industrial Motion Corp. (NASDAQ:AIMC) is a manufacturer of mechanical power transmission products – brakes, clutches, couplings, and the like. In the last three months, Altra Industrial Motion Corp. (NASDAQ:AIMC) stock gained 1.1% and on February 23rd it had a closing price of $58.26. Here is what Wasatch said:
New Technology Developments in Industrial Motor Brakes Market to Grow during Forecast year 2021-2027 – KSU
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Process and Control Today | Reel Power relies on advanced PMSM technology from Bauer Gear Motor
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fmiFebruary 22, 2021
Impact of COVID-19 on Industrial Automation Market
COVID-19 pandemic has caused a severe impact on the global economy at various levels and the impact is seen on the Industrial automation market as well. This thriving sector is expected to offset a sharp decline in sales during the lockdown when the manufacturing units experienced shutdowns and a dearth in raw materials supply and absence of human resources. Inferable from the emergency brought about by the pandemic, the production, and supply chain activities have experienced a minor slump. However, the market is expected to gradually recover post-COVID-19, which will present attractive opportunities for sales within various regions of the world in the coming years.