Allient (NASDAQ:ALNT) Sets New 12-Month High – Here’s Why

Allient Inc. (NASDAQ:ALNT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $118.67 and last traded at $113.97, with a volume of 298702 shares trading hands. The stock had previously closed at $113.03.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a research note on Tuesday, May 26th. Weiss Ratings upgraded Allient from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Roth Capital reissued a “buy” rating and set a $70.00 price objective on shares of Allient in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised Allient from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Allient presently has a consensus rating of “Buy” and a consensus price target of $84.00.

Allient Price Performance

The stock has a market cap of $1.86 billion, a P/E ratio of 64.52 and a beta of 1.61. The company’s 50 day moving average price is $93.29 and its 200-day moving average price is $76.23. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56.

Allient (NASDAQ:ALNT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19. The company had revenue of $153.77 million for the quarter, compared to analysts’ expectations of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. As a group, sell-side analysts expect that Allient Inc. will post 2.72 earnings per share for the current year.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. Allient’s dividend payout ratio is presently 9.41%.

Insider Activity

In related news, CEO Richard S. Warzala sold 70,000 shares of Allient stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $113.58, for a total value of $7,950,600.00. Following the transaction, the chief executive officer directly owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allient

Several large investors have recently added to or reduced their stakes in ALNT. BlackRock Inc. bought a new stake in Allient in the second quarter valued at $128,774,000. Jennison Associates LLC boosted its position in shares of Allient by 111.5% during the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after purchasing an additional 186,316 shares in the last quarter. Telemark Asset Management LLC acquired a new stake in shares of Allient in the 4th quarter valued at about $8,062,000. Marshall Wace LLP increased its position in Allient by 1,291.3% in the 3rd quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after buying an additional 142,763 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Allient by 95.6% in the 4th quarter. Handelsbanken Fonder AB now owns 257,323 shares of the company’s stock valued at $13,831,000 after buying an additional 125,753 shares in the last quarter. Institutional investors and hedge funds 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.