Allient (NASDAQ:ALNT) Shares Down 5.7% – Here’s Why

Allient Inc. (NASDAQ:ALNT) traded down 5.7% during trading on Tuesday . The company traded as low as $88.50 and last traded at $88.6140. Approximately 56,087 shares were traded during trading, a decline of 75% from the average session volume of 223,734 shares. The stock had previously closed at $94.01.

Analysts Set New Price Targets

ALNT has been the subject of several recent research reports. Macquarie Infrastructure set a $80.00 price target on Allient in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Jefferies Financial Group set a $80.00 target price on Allient in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $84.00.

Allient Stock Up 2.6%

The stock has a market cap of $1.51 billion, a PE ratio of 52.17 and a beta of 1.62. The business has a 50 day moving average price of $94.71 and a 200 day moving average price of $79.60. 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 posted its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.19. Allient had a net margin of 4.98% and a return on equity of 13.55%. The firm had revenue of $153.77 million during the quarter, compared to analyst estimates of $145.68 million. Equities research analysts expect that Allient Inc. will post 2.73 EPS for the current fiscal year.

Allient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient’s payout ratio is presently 9.41%.

Insider Buying and Selling at Allient

In other Allient news, CEO Richard S. Warzala sold 70,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the transaction, the chief executive officer owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Allient

Institutional investors and hedge funds have recently modified their holdings of the business. Tulsa Wealth Advisors INC purchased a new stake in shares of Allient in the fourth quarter valued at approximately $659,000. Sei Investments Co. lifted its position in shares of Allient by 87.9% during the 1st quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock valued at $3,275,000 after buying an additional 25,935 shares in the last quarter. BlackRock Inc. acquired a new stake in Allient in the 2nd quarter valued at $128,774,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Allient in the 2nd quarter valued at $3,992,000. Finally, Jennison Associates LLC increased its holdings in Allient by 111.5% in the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after acquiring an additional 186,316 shares in the last quarter. 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.