Allient (NASDAQ:ALNT) Hits New 1-Year High – What’s Next?

Shares of Allient Inc. (NASDAQ:ALNT) hit a new 52-week high during trading on Monday . The company traded as high as $60.49 and last traded at $59.4050, with a volume of 20920 shares trading hands. The stock had previously closed at $59.07.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research report on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on Allient in a research report on Monday, October 20th. They issued a “neutral” rating and a $60.00 target price on the stock. Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Roth Capital upped their price target on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.33.

Allient Stock Up 2.1%

The stock has a market cap of $1.02 billion, a P/E ratio of 53.87 and a beta of 1.55. The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average is $54.14 and its 200-day moving average is $47.77.

Allient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Thursday, November 20th. Allient’s dividend payout ratio (DPR) is currently 10.71%.

Insiders Place Their Bets

In other Allient news, VP Ashish Bendre sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total value of $836,000.00. Following the completion of the sale, the vice president directly owned 23,166 shares in the company, valued at $1,210,423.50. This represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALNT. Advisory Services Network LLC bought a new position in shares of Allient in the third quarter valued at $34,000. Cullen Frost Bankers Inc. grew its holdings in shares of Allient by 173.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after acquiring an additional 633 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Allient during the third quarter worth $41,000. New York State Teachers Retirement System acquired a new stake in shares of Allient during the third quarter worth $58,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Allient by 162.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after purchasing an additional 1,355 shares during the last quarter. Institutional investors and hedge funds own 61.57% of the company’s stock.

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.