Allient Inc. (NASDAQ:ALNT) Sees Large Decrease in Short Interest

Allient Inc. (NASDAQ:ALNT) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 188,600 shares, a decline of 12.5% from the August 15th total of 215,600 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 117,700 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Allient

Several large investors have recently made changes to their positions in ALNT. BNP Paribas Financial Markets bought a new position in Allient in the 1st quarter worth approximately $1,110,000. Fisher Asset Management LLC acquired a new position in shares of Allient during the fourth quarter valued at $1,003,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Allient during the first quarter valued at about $1,332,000. Wasatch Advisors LP acquired a new stake in Allient in the first quarter worth about $20,914,000. Finally, Gabelli Funds LLC bought a new position in Allient in the 1st quarter valued at about $2,461,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Trading Up 2.4 %

NASDAQ:ALNT opened at $20.92 on Wednesday. The firm has a market capitalization of $350.95 million, a P/E ratio of 13.85 and a beta of 1.51. The business has a 50 day simple moving average of $23.30 and a 200 day simple moving average of $27.15. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.90 and a quick ratio of 2.00. Allient has a 12-month low of $18.17 and a 12-month high of $36.33.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). The firm had revenue of $136.03 million for the quarter, compared to analyst estimates of $137.55 million. Allient had a net margin of 3.35% and a return on equity of 13.04%. During the same period last year, the firm posted $0.58 EPS. Equities research analysts predict that Allient will post 1.29 EPS for the current year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, August 22nd. Allient’s dividend payout ratio (DPR) is 7.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALNT shares. Craig Hallum cut their target price on Allient from $41.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Roth Mkm cut their price target on shares of Allient from $39.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Northland Securities decreased their price objective on shares of Allient from $35.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, August 9th.

About Allient

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.