Allient (NASDAQ:ALNT) Sees Strong Trading Volume – Here’s Why

Allient Inc. (NASDAQ:ALNT) saw strong trading volume on Monday . Approximately 163,767 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 215,165 shares.The stock last traded at $88.13 and had previously closed at $86.78.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 17th. Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. JPMorgan Chase & Co. lifted their price target on shares of Allient from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Finally, Roth Capital restated a “buy” rating and set a $70.00 target price on shares of Allient in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.83.

Allient Stock Performance

The company has a market capitalization of $1.42 billion, a PE ratio of 58.22 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. The company has a 50 day moving average price of $87.15 and a 200 day moving average price of $72.91.

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

Allient Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.2%. This is an increase from Allient’s previous quarterly dividend of $0.03. Allient’s dividend payout ratio (DPR) is 11.19%.

Institutional Investors Weigh In On Allient

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Allient by 3.3% during the first quarter. Bank of America Corp DE now owns 33,389 shares of the company’s stock worth $1,973,000 after purchasing an additional 1,079 shares during the last quarter. Smith Group Asset Management LLC acquired a new position in Allient in the first quarter worth about $450,000. EverSource Wealth Advisors LLC increased its holdings in Allient by 5,102.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,289 shares of the company’s stock valued at $135,000 after buying an additional 2,245 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Allient by 10.3% in the first quarter. Quantinno Capital Management LP now owns 11,701 shares of the company’s stock valued at $691,000 after buying an additional 1,088 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Allient by 87.9% in the first quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock valued at $3,275,000 after buying an additional 25,935 shares during the last quarter. 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.