Allient (NASDAQ:ALNT) Shares Up 6.9% – What’s Next?

Allient Inc. (NASDAQ:ALNT)’s share price shot up 6.9% on Friday . The stock traded as high as $99.96 and last traded at $100.7140. 85,535 shares were traded during mid-day trading, a decline of 62% from the average session volume of 222,863 shares. The stock had previously closed at $94.18.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALNT shares. Wall Street Zen upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Jefferies Financial Group set a $80.00 target price on shares of Allient in a research note on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $84.00.

Allient Stock Up 4.8%

The business’s fifty day moving average price is $94.48 and its two-hundred day moving average price is $80.87. The company has a current ratio of 3.42, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.68 billion, a P/E ratio of 58.04 and a beta of 1.62.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.61 by $0.19. Allient had a net margin of 4.98% and a return on equity of 13.55%. The firm had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. As a group, equities research analysts anticipate that Allient Inc. will post 2.73 EPS for the current year.

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Allient’s payout ratio is currently 9.41%.

Insider Buying and Selling

In related news, CEO Richard Warzala sold 70,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,499,106 shares in the company, valued at $170,268,459.48. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allient

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in shares of Allient by 12,285.6% in the 2nd quarter. California State Teachers Retirement System now owns 1,604,679 shares of the company’s stock worth $165,170,000 after acquiring an additional 1,591,723 shares during the period. BlackRock Inc. bought a new stake in shares of Allient during the second quarter valued at approximately $128,774,000. Vanguard Group Inc. increased its position in shares of Allient by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock valued at $54,355,000 after purchasing an additional 26,438 shares during the period. State Street Corp increased its position in shares of Allient by 32.5% during the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after purchasing an additional 96,264 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Allient by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock valued at $19,808,000 after purchasing an additional 10,173 shares in the last quarter. 61.57% of the stock is currently owned by institutional investors.

About Allient

Allient Inc (NASDAQ: ALNT) is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.