Allient (NASDAQ:ALNT) Sets New 1-Year High – Still a Buy?

Allient Inc. (NASDAQ:ALNT) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $53.55 and last traded at $53.21, with a volume of 366383 shares changing hands. The stock had previously closed at $51.77.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Allient in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Allient has an average rating of “Hold” and a consensus target price of $35.00.

Allient Stock Performance

The firm’s 50 day moving average is $45.46 and its two-hundred day moving average is $35.88. The stock has a market capitalization of $901.91 million, a PE ratio of 61.87 and a beta of 1.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.17 and a current ratio of 3.74.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. Allient had a net margin of 2.75% and a return on equity of 9.97%. The firm had revenue of $139.58 million for the quarter, compared to the consensus estimate of $132.89 million. As a group, research analysts predict that Allient Inc. will post 1.43 earnings per share for the current year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st 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, August 21st. Allient’s dividend payout ratio is presently 13.95%.

Institutional Trading of Allient

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Allient during the first quarter worth approximately $60,000. American Century Companies Inc. increased its stake in shares of Allient by 27.9% during the first quarter. American Century Companies Inc. now owns 27,553 shares of the company’s stock worth $606,000 after buying an additional 6,002 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Allient by 26.7% during the first quarter. Envestnet Asset Management Inc. now owns 104,988 shares of the company’s stock worth $2,308,000 after buying an additional 22,098 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Allient by 26.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 91,033 shares of the company’s stock valued at $2,001,000 after purchasing an additional 18,854 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Allient by 7.7% in the first quarter. Vanguard Group Inc. now owns 908,965 shares of the company’s stock valued at $19,979,000 after purchasing an additional 65,061 shares during the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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.