Allient (NASDAQ:ALNT) Sets New 52-Week High – Should You Buy?

Shares of Allient Inc. (NASDAQ:ALNT) reached a new 52-week high during trading on Friday . The company traded as high as $75.71 and last traded at $75.72, with a volume of 31115 shares traded. The stock had previously closed at $73.40.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALNT. Roth Mkm raised their price target on shares of Allient from $56.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Zacks Research lowered Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Craig Hallum reissued a “buy” rating and set a $75.00 target price on shares of Allient in a report on Monday, March 9th. Lake Street Capital started coverage on Allient in a research report on Wednesday, February 18th. They issued a “buy” rating and a $79.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.60.

Allient Trading Up 1.6%

The stock has a market capitalization of $1.27 billion, a PE ratio of 56.69 and a beta of 1.53. The company’s 50 day moving average price is $65.46 and its two-hundred day moving average price is $59.05. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.66 and a quick ratio of 2.08.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.09. The company had revenue of $143.35 million during the quarter, compared to analysts’ expectations of $133.33 million. Allient had a net margin of 3.97% and a return on equity of 12.53%. As a group, analysts expect that Allient Inc. will post 2.58 earnings per share for the current year.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 20th were given a $0.03 dividend. The ex-dividend date was Friday, March 20th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Allient’s dividend payout ratio is 9.09%.

Hedge Funds Weigh In On Allient

A number of institutional investors have recently added to or reduced their stakes in ALNT. Ritholtz Wealth Management boosted its stake in Allient by 79.3% during the first quarter. Ritholtz Wealth Management now owns 19,519 shares of the company’s stock worth $1,153,000 after buying an additional 8,635 shares during the last quarter. Balboa Wealth Partners acquired a new stake in shares of Allient in the 1st quarter worth $227,000. Tulsa Wealth Advisors INC purchased a new position in shares of Allient during the 4th quarter worth $659,000. Invesco Ltd. raised its holdings in shares of Allient by 1.3% during the 4th quarter. Invesco Ltd. now owns 85,409 shares of the company’s stock worth $4,591,000 after acquiring an additional 1,084 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in shares of Allient during the 4th quarter valued at about $219,000. 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.