Allient Inc. (NASDAQ:ALNT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Allient Inc. (NASDAQ:ALNT) have earned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $50.3333.

A number of brokerages recently commented on ALNT. JPMorgan Chase & Co. began coverage on shares of Allient in a research report on Monday, October 20th. They issued a “neutral” rating and a $60.00 target price on the stock. Zacks Research upgraded Allient from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. Finally, Roth Capital raised their price target on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 14th.

Allient Trading Up 0.3%

ALNT stock opened at $54.65 on Tuesday. The company has a market capitalization of $925.77 million, a PE ratio of 48.79 and a beta of 1.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. Allient has a one year low of $19.25 and a one year high of $58.13. The company’s 50 day moving average price is $51.29 and its two-hundred day moving average price is $43.92.

Allient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, November 20th. Allient’s payout ratio is presently 10.71%.

Insiders Place Their Bets

In other Allient news, VP Ashish Bendre sold 16,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total value of $836,000.00. Following the sale, the vice president owned 23,166 shares of the company’s stock, valued at $1,210,423.50. This trade represents a 40.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.90% of the stock is owned by insiders.

Institutional Trading of Allient

Institutional investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of Allient in the third quarter worth about $34,000. NewEdge Advisors LLC lifted its holdings in Allient by 823.3% in the 3rd quarter. NewEdge Advisors LLC now owns 6,112 shares of the company’s stock worth $274,000 after buying an additional 5,450 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Allient in the 3rd quarter worth approximately $297,000. Earnest Partners LLC bought a new stake in shares of Allient in the 3rd quarter worth approximately $235,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Allient during the third quarter valued at approximately $326,000. 61.57% of the stock is currently 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.