Allient (NASDAQ:ALNT) Stock Price Down 5.9% – Time to Sell?

Allient Inc. (NASDAQ:ALNT) dropped 5.9% during trading on Wednesday . The stock traded as low as $51.28 and last traded at $51.44. Approximately 65,267 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 143,964 shares. The stock had previously closed at $54.64.

Analyst Ratings Changes

ALNT has been the subject of several research reports. JPMorgan Chase & Co. assumed coverage on shares of Allient in a research note on Monday, October 20th. They set a “neutral” rating and a $60.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a report on Wednesday, October 8th. Zacks Research upgraded Allient from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Roth Capital raised their price objective on Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.33.

Allient Price Performance

The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. The stock has a market cap of $875.61 million, a PE ratio of 46.14 and a beta of 1.59. The company’s 50 day moving average is $52.72 and its 200-day moving average is $44.97.

Allient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, November 20th. Allient’s payout ratio is presently 10.71%.

Insider Activity at Allient

In related news, VP Ashish Bendre sold 16,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total value of $836,000.00. Following the completion of the transaction, the vice president owned 23,166 shares of the company’s stock, valued at approximately $1,210,423.50. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Allient

A number of institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new position in shares of Allient during the 3rd quarter valued at approximately $34,000. State of Alaska Department of Revenue acquired a new stake in Allient in the third quarter valued at $41,000. Cullen Frost Bankers Inc. boosted its stake in Allient by 173.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after acquiring an additional 633 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Allient during the 3rd quarter worth $58,000. Finally, AlphaQuest LLC acquired a new position in Allient during the 3rd quarter worth $88,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Allient Company Profile

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.