Allient (NASDAQ:ALNT) Shares Down 5.9% – Here’s What Happened

by · The Cerbat Gem

Shares of Allient Inc. (NASDAQ:ALNT – Get Free Report) traded down 5.9% during trading on Wednesday . The stock traded as low as $51.28 and last traded at $51.44. 65,267 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 143,964 shares. The stock had previously closed at $54.64.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Roth Capital increased their price target on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. started coverage on shares of Allient in a report on Monday, October 20th. They issued a “neutral” rating and a $60.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Allient from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.33.

View Our Latest Stock Report on Allient

Allient Price Performance

The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $52.72 and a two-hundred day simple moving average of $44.97. The company has a market cap of $875.61 million, a PE ratio of 46.14 and a beta of 1.59.

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 given a $0.03 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Allient’s dividend payout ratio (DPR) is currently 10.71%.

Insiders Place Their Bets

In other news, VP Ashish Bendre sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total transaction of $836,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Allient

Hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new position in Allient during the third quarter worth about $34,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Allient by 173.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after acquiring an additional 633 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Allient in the third quarter worth approximately $41,000. New York State Teachers Retirement System purchased a new stake in Allient in the third quarter valued at approximately $58,000. Finally, 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 worth $80,000 after purchasing an additional 1,355 shares during the period. Institutional investors and hedge funds own 61.57% of the company’s stock.

About Allient

(Get Free Report)

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.

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