Allient (NASDAQ:ALNT) Stock Price Up 6.9% – What’s Next?

Allient Inc. (NASDAQ:ALNT)’s share price traded up 6.9% on Friday . The stock traded as high as $99.96 and last traded at $100.7140. 85,535 shares were traded during mid-day trading, a decline of 62% from the average session volume of 222,863 shares. The stock had previously closed at $94.18.

Analysts Set New Price Targets

A number of equities analysts recently commented on ALNT shares. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a research note on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Weiss Ratings raised Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Finally, Wall Street Zen raised Allient from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat, Allient presently has an average rating of “Buy” and a consensus price target of $84.00.

Allient Trading Up 6.9%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 59.05 and a beta of 1.62. The company’s 50 day simple moving average is $94.25 and its two-hundred day simple moving average is $80.74.

Allient (NASDAQ:ALNT) last issued its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. Allient had a net margin of 4.98% and a return on equity of 13.55%. The company had revenue of $153.77 million during the quarter, compared to analyst estimates of $145.68 million. Research analysts expect that Allient Inc. will post 2.73 EPS for the current fiscal year.

Allient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.04 per share. 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 dividend payout ratio (DPR) is presently 9.41%.

Insider Buying and Selling

In other Allient news, CEO Richard Warzala sold 70,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $113.58, for a total value of $7,950,600.00. Following the transaction, the chief executive officer owned 1,499,106 shares in the company, valued at $170,268,459.48. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allient

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNT. California State Teachers Retirement System increased its holdings in Allient by 12,285.6% in the second quarter. California State Teachers Retirement System now owns 1,604,679 shares of the company’s stock worth $165,170,000 after buying an additional 1,591,723 shares during the last quarter. BlackRock Inc. acquired a new stake in Allient in the second quarter valued at approximately $128,774,000. Vanguard Group Inc. grew its position in Allient by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock worth $54,355,000 after acquiring an additional 26,438 shares in the last quarter. State Street Corp grew its position in Allient by 32.5% in the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock worth $21,084,000 after acquiring an additional 96,264 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Allient by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock valued at $19,808,000 after purchasing an additional 10,173 shares in the last quarter. 61.57% of the stock is owned by hedge funds and other institutional investors.

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.