Allient (NASDAQ:ALNT) Stock Crosses Below 200-Day Moving Average – What’s Next?

Shares of Allient Inc. (NASDAQ:ALNT) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $82.72 and traded as low as $75.49. Allient shares last traded at $79.56, with a volume of 405,341 shares.

Analyst Ratings Changes

ALNT has been the topic of several recent research reports. Weiss Ratings downgraded Allient from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Zacks Research cut Allient from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. lowered shares of Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, October 13th. Finally, Wall Street Zen lowered Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Allient Price Performance

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 company has a market capitalization of $1.35 billion, a PE ratio of 46.80 and a beta of 1.62. The firm has a fifty day moving average of $99.28 and a two-hundred day moving average of $82.72.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.33. The company had revenue of $164.40 million during the quarter, compared to analyst estimates of $154.48 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. Research analysts anticipate that Allient Inc. will post 2.72 EPS for the current fiscal year.

Allient Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, November 18th. Allient’s dividend payout ratio is currently 9.41%.

Insider Activity at Allient

In other news, CEO Richard Warzala sold 70,000 shares of Allient stock in a transaction dated 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 sale, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at approximately $170,268,459.48. The trade was a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Allient

A number of institutional investors have recently added to or reduced their stakes in ALNT. Bank of New York Mellon Corp purchased a new stake in shares of Allient in the second quarter worth $9,051,000. BlackRock Inc. bought a new stake in Allient during the second quarter valued at about $128,774,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Allient during the 2nd quarter valued at $3,181,000. Sei Investments Co. boosted its stake in Allient by 87.9% in the 1st quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock worth $3,275,000 after purchasing an additional 25,935 shares during the period. Finally, Navellier & Associates Inc. grew its stake in Allient by 158.7% during the second quarter. Navellier & Associates Inc. now owns 17,975 shares of the company’s stock valued at $1,850,000 after acquiring an additional 11,027 shares in the last quarter. Institutional investors own 61.57% of the company’s stock.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.