Allient (NASDAQ:ALNT) Hits New 52-Week High – Still a Buy?

Allient Inc. (NASDAQ:ALNT) shares reached a new 52-week high during trading on Friday . The company traded as high as $77.39 and last traded at $75.2850, with a volume of 42576 shares trading hands. The stock had previously closed at $76.18.

Analyst Upgrades and Downgrades

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

Allient Stock Performance

The company has a market cap of $1.30 billion, a P/E ratio of 57.70 and a beta of 1.53. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.66 and a quick ratio of 2.08. The stock’s 50-day moving average is $66.25 and its two-hundred day moving average is $60.09.

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

Allient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Friday, March 20th 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 Friday, March 20th. Allient’s payout ratio is currently 9.09%.

Hedge Funds Weigh In On Allient

A number of institutional investors and hedge funds have recently made changes to their positions in ALNT. Cullen Frost Bankers Inc. increased its holdings in Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after acquiring an additional 209 shares during the last quarter. Arax Advisory Partners lifted its position in Allient by 113.9% during the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Allient by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after buying an additional 390 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after acquiring an additional 413 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Allient by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,445 shares of the company’s stock valued at $454,000 after acquiring an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 61.57% of the company’s stock.

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.