Allient (NASDAQ:ALNT) Shares Gap Down After Earnings Miss

Shares of Allient Inc. (NASDAQ:ALNT) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $77.52, but opened at $65.62. Allient shares last traded at $63.3550, with a volume of 98,648 shares changing hands.

The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). The firm had revenue of $138.92 million during the quarter, compared to analyst estimates of $138.42 million. Allient had a return on equity of 12.53% and a net margin of 3.97%.

Allient Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.2%. This is a boost from Allient’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, May 21st. Allient’s dividend payout ratio (DPR) is 9.09%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ALNT shares. Roth Mkm raised their price objective on shares of Allient from $56.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Craig Hallum restated a “buy” rating and set a $75.00 price objective on shares of Allient in a report on Monday, March 9th. Lake Street Capital started 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Allient in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.75.

Institutional Trading of Allient

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arax Advisory Partners boosted its holdings in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after buying an additional 263 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after buying an additional 413 shares during the period. Advisory Services Network LLC bought a new stake in shares of Allient during the 3rd quarter worth about $34,000. State of Alaska Department of Revenue bought a new stake in shares of Allient during the 3rd quarter worth about $41,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Allient by 22.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after buying an additional 209 shares during the period. Institutional investors own 61.57% of the company’s stock.

Allient Stock Down 14.9%

The firm has a market cap of $1.12 billion, a P/E ratio of 48.65 and a beta of 1.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.08 and a current ratio of 3.66. The firm’s fifty day moving average is $66.68 and its 200 day moving average is $60.60.

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.