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

Shares of Allient Inc. (NASDAQ:ALNT) have been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $50.3333.

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

Insider Activity

In related news, VP Ashish Bendre sold 16,000 shares of Allient stock in a transaction that occurred 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 transaction, the vice president directly owned 23,166 shares of the company’s stock, valued at $1,210,423.50. This trade represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 15.60% of the company’s stock.

Institutional Trading of Allient

Several institutional investors and hedge funds have recently modified their holdings of ALNT. Portolan Capital Management LLC bought a new stake in shares of Allient during the 3rd quarter valued at approximately $11,530,000. AIGH Capital Management LLC acquired a new stake in Allient in the second quarter valued at approximately $7,262,000. Hillsdale Investment Management Inc. acquired a new stake in Allient in the third quarter valued at approximately $6,656,000. Marshall Wace LLP grew its stake in shares of Allient by 1,291.3% during the third quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock worth $6,883,000 after buying an additional 142,763 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in shares of Allient during the third quarter worth $5,888,000. 61.57% of the stock is currently owned by institutional investors.

Allient Stock Up 3.4%

Shares of ALNT opened at $55.58 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. Allient has a 12 month low of $19.25 and a 12 month high of $58.13. The firm’s 50 day moving average is $53.88 and its 200-day moving average is $46.78. The stock has a market capitalization of $941.53 million, a PE ratio of 49.63 and a beta of 1.55.

Allient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were issued 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 of this dividend was Thursday, November 20th. Allient’s dividend payout ratio is 10.71%.

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.