Allient (NASDAQ:ALNT) Reaches New 1-Year High – What’s Next?

Allient Inc. (NASDAQ:ALNT) shares reached a new 52-week high on Wednesday . The stock traded as high as $100.15 and last traded at $100.3980, with a volume of 94352 shares. The stock had previously closed at $96.03.

Analyst Ratings Changes

ALNT has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Allient from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings lowered Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Macquarie Infrastructure set a $80.00 price objective on Allient in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upgraded Allient from a “neutral” rating to an “overweight” rating and upped their target price for the company from $65.00 to $80.00 in a research report on Tuesday, May 26th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $70.00 target price on shares of Allient in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Allient Stock Up 4.4%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. The firm’s 50 day moving average price is $78.01 and its two-hundred day moving average price is $67.38. The company has a market cap of $1.74 billion, a P/E ratio of 71.51 and a beta of 1.63.

Allient (NASDAQ:ALNT) last issued its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). The company had revenue of $138.91 million for the quarter, compared to the consensus estimate of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. Equities research analysts anticipate that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. This is a boost from Allient’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. Allient’s payout ratio is currently 11.19%.

Institutional Trading of Allient

Several large investors have recently made changes to their positions in ALNT. Royal Bank of Canada raised its stake in Allient by 19.8% during the 1st quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock worth $2,453,000 after buying an additional 18,416 shares during the period. AQR Capital Management LLC grew its stake in Allient by 8.0% in the first quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock valued at $1,179,000 after acquiring an additional 3,979 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Allient by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after acquiring an additional 390 shares during the period. Empowered Funds LLC increased its holdings in shares of Allient by 8.1% during the first quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock valued at $1,012,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Allient by 9.9% during the first quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock valued at $404,000 after acquiring an additional 1,663 shares in the last quarter. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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.