Allient (NASDAQ:ALNT) Sets New 1-Year High – What’s Next?

Shares of Allient Inc. (NASDAQ:ALNT) hit a new 52-week high on Wednesday . The company traded as high as $97.97 and last traded at $95.73, with a volume of 436456 shares. The stock had previously closed at $95.09.

Analyst Ratings Changes

A number of research firms have commented on ALNT. Macquarie Infrastructure set a $80.00 target price on Allient in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised shares of Allient from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $80.00 in a research note on Tuesday, May 26th. Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Roth Mkm reiterated a “buy” rating and issued a $70.00 price objective on shares of Allient in a research note on Friday, May 8th. Finally, Lake Street Capital initiated coverage on shares of Allient in a report on Wednesday, February 18th. They set a “buy” rating and a $79.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Allient Stock Performance

The firm has a fifty day moving average of $73.76 and a 200-day moving average of $65.25. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 66.94 and a beta of 1.63. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a net margin of 4.25% and a return on equity of 12.47%. The firm had revenue of $138.92 million during the quarter, compared to analyst estimates of $138.42 million. As a group, sell-side analysts anticipate that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, May 21st. This is a positive change from Allient’s previous quarterly dividend of $0.03. Allient’s dividend payout ratio is currently 11.19%.

Hedge Funds Weigh In On Allient

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new stake in shares of Allient during the third quarter valued at $3,196,000. Jennison Associates LLC acquired a new position in Allient in the 4th quarter valued at about $8,982,000. Handelsbanken Fonder AB acquired a new stake in shares of Allient during the 3rd quarter worth about $5,888,000. Principal Financial Group Inc. acquired a new stake in shares of Allient during the 3rd quarter worth about $647,000. Finally, Teton Advisors LLC acquired a new stake in Allient during the third quarter worth approximately $3,007,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

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.