Allient (NASDAQ:ALNT) Shares Gap Up – Here’s Why

Shares of Allient Inc. (NASDAQ:ALNT) gapped up before the market opened on Friday . The stock had previously closed at $51.41, but opened at $54.52. Allient shares last traded at $55.00, with a volume of 21,551 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALNT. Roth Capital boosted their price objective on shares of Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Allient in a research report on Monday, October 20th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.33.

Allient Stock Up 0.6%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. The firm has a 50 day simple moving average of $52.99 and a two-hundred day simple moving average of $45.09. The stock has a market cap of $932.04 million, a P/E ratio of 49.13 and a beta of 1.59.

Allient Dividend Announcement

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

Insider Activity at Allient

In other news, VP Ashish Bendre sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total value of $836,000.00. Following the completion of the transaction, the vice president directly owned 23,166 shares in the company, valued at $1,210,423.50. This trade represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Allient

Institutional investors have recently added to or reduced their stakes in the company. Portolan Capital Management LLC acquired a new position in shares of Allient during the 3rd quarter valued at $11,530,000. AIGH Capital Management LLC bought a new stake in Allient in the second quarter worth about $7,262,000. Hillsdale Investment Management Inc. acquired a new stake in Allient in the 3rd quarter valued at about $6,656,000. Marshall Wace LLP lifted its holdings 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 acquiring an additional 142,763 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of Allient during the 3rd quarter valued at about $5,888,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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.