Allient (NASDAQ:ALNT) Stock Price Down 12.8% – Should You Sell?

Shares of Allient Inc. (NASDAQ:ALNT) dropped 12.8% during trading on Thursday . The stock traded as low as $85.47 and last traded at $85.9790. 182,681 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 210,202 shares. The stock had previously closed at $98.63.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALNT. Wall Street Zen upgraded shares of Allient from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Roth Mkm reiterated a “buy” rating and issued a $70.00 price objective on shares of Allient in a research note on Friday, May 8th. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised shares of Allient from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $65.00 to $80.00 in a research report on Tuesday, May 26th. Finally, Craig Hallum restated a “buy” rating and issued a $75.00 target price on shares of Allient in a research note on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Allient presently has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Allient Trading Down 11.9%

The stock has a market capitalization of $1.48 billion, a PE ratio of 60.76 and a beta of 1.58. The firm has a 50-day moving average price of $80.22 and a 200-day moving average price of $68.61. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58.

Allient (NASDAQ:ALNT) last released its earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The business had revenue of $138.91 million for the quarter, compared to the consensus estimate of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. As a group, equities analysts forecast that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a $0.04 dividend. The ex-dividend date was Thursday, May 21st. This is a positive change from Allient’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient’s dividend payout ratio is presently 11.19%.

Institutional Investors Weigh In On Allient

Several large investors have recently modified their holdings of ALNT. Arax Advisory Partners raised its holdings in shares of Allient by 113.9% in the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after purchasing an additional 263 shares during the period. Larson Financial Group LLC increased its position in Allient by 149.1% in the fourth 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 last quarter. Advisory Services Network LLC purchased a new stake in Allient in the third quarter worth $34,000. Cullen Frost Bankers Inc. raised its stake in shares of Allient by 22.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after buying an additional 209 shares during the period. Finally, State of Wyoming bought a new stake in shares of Allient in the fourth quarter valued at $67,000. Hedge funds and other institutional investors 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.