Allient (NASDAQ:ALNT) Sets New 1-Year High – Here’s Why

Allient Inc. (NASDAQ:ALNT)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $100.15 and last traded at $100.3980, with a volume of 94352 shares changing hands. The stock had previously closed at $96.03.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALNT shares. Jefferies Financial Group set a $80.00 target price on shares of Allient in a research report on Tuesday, May 26th. Craig Hallum reaffirmed a “buy” rating and set a $75.00 price target on shares of Allient in a report on Monday, March 9th. JPMorgan Chase & Co. upgraded Allient from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $65.00 to $80.00 in a research report on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 price objective on Allient in a research report on Tuesday, May 26th. Finally, Roth Mkm reissued a “buy” rating and issued a $70.00 price objective on shares of Allient in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Allient presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.33.

Allient Stock Up 2.5%

The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 68.60 and a beta of 1.63. The stock’s 50 day moving average is $76.85 and its 200 day moving average is $66.74.

Allient (NASDAQ:ALNT) last released its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The firm had revenue of $138.91 million during the quarter, compared to analyst estimates of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. Analysts forecast that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arax Advisory Partners raised its position in Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after purchasing an additional 413 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Allient during the 3rd quarter valued at about $34,000. Cullen Frost Bankers Inc. grew its stake in shares of Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after purchasing an additional 209 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Allient in the 4th quarter worth approximately $67,000. Institutional investors 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.