Allient (NASDAQ:ALNT) Issues Quarterly Earnings Results

Allient (NASDAQ:ALNT) posted its quarterly earnings results on Wednesday. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19, FiscalAI reports. Allient had a return on equity of 13.69% and a net margin of 4.98%.The company had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million.

Allient Trading Up 19.3%

NASDAQ ALNT opened at $111.21 on Friday. Allient has a 12 month low of $39.37 and a 12 month high of $113.48. The stock’s fifty day moving average price is $90.50 and its 200-day moving average price is $74.46. The stock has a market cap of $1.89 billion, a P/E ratio of 65.42 and a beta of 1.61. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Allient’s payout ratio is 9.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ALNT shares. Weiss Ratings upgraded Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Allient from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Roth Capital reaffirmed a “buy” rating and set a $70.00 price objective on shares of Allient in a report on Friday, May 8th. Macquarie Infrastructure set a $80.00 target price on Allient in a research note on Tuesday, May 26th. Finally, Wall Street Zen lowered Allient from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Allient presently has an average rating of “Moderate Buy” and a consensus price target of $79.83.

Institutional Trading of Allient

A number of institutional investors have recently made changes to their positions in ALNT. Arax Advisory Partners grew its holdings in shares of Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares during the period. Advisory Services Network LLC bought a new stake in Allient during the 3rd quarter valued at approximately $34,000. State of Wyoming bought a new stake in shares of Allient in the fourth quarter worth about $67,000. Tower Research Capital LLC TRC raised its stake in Allient by 162.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after purchasing an additional 1,355 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co bought a new stake in Allient in the fourth quarter worth $100,000. 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.