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

Allient Inc. (NASDAQ:ALNT) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $97.97 and last traded at $95.73, with a volume of 436456 shares. The stock had previously closed at $95.09.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wall Street Zen raised Allient from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings lowered Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Craig Hallum reissued a “buy” rating and issued a $75.00 price objective on shares of Allient in a report on Monday, March 9th. Roth Mkm restated a “buy” rating and set a $70.00 target price on shares of Allient in a research report on Friday, May 8th. Finally, Jefferies Financial Group set a $80.00 target price on shares of Allient in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.33.

Allient Trading Up 0.7%

The company has a 50 day simple moving average of $73.76 and a 200 day simple moving average of $65.25. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.63 billion, a PE ratio of 66.94 and a beta of 1.63.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a net margin of 4.25% and a return on equity of 12.47%. The company had revenue of $138.92 million during the quarter, compared to analysts’ expectations of $138.42 million. Analysts predict that Allient Inc. will post 2.47 earnings per share for the current fiscal year.

Allient Increases Dividend

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

Hedge Funds Weigh In On Allient

A number of large investors have recently bought and sold shares of the company. Arax Advisory Partners increased its stake in shares of Allient by 113.9% during 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 purchased a new stake in Allient in the 3rd quarter valued at approximately $34,000. Larson Financial Group LLC increased its position in Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares during the period. Cullen Frost Bankers Inc. increased its position in Allient by 22.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after purchasing an additional 209 shares during the period. Finally, State of Wyoming purchased a new position in shares of Allient during the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

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.