Allient (NASDAQ:ALNT) Hits New 1-Year High – What’s Next?
by Doug Wharley · The Cerbat GemAllient Inc. (NASDAQ:ALNT – Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $60.49 and last traded at $59.4050, with a volume of 20920 shares. The stock had previously closed at $59.07.
Wall Street Analyst Weigh In
A number of research firms have commented on ALNT. Roth Capital upped their price objective on shares of Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 14th. 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 price target for the company. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Allient has a consensus rating of “Hold” and a consensus target price of $50.33.
Read Our Latest Stock Analysis on ALNT
Allient Stock Up 2.1%
The company has a quick ratio of 2.01, a current ratio of 3.53 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.02 billion, a PE ratio of 53.87 and a beta of 1.55. The business’s 50-day moving average price is $54.14 and its 200-day moving average price is $47.77.
Allient Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders 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 yield of 0.2%. Allient’s dividend payout ratio is presently 10.71%.
Insider Activity
In other news, VP Ashish Bendre sold 16,000 shares of the business’s stock in a transaction 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 transaction, the vice president directly owned 23,166 shares in the company, valued at $1,210,423.50. The trade was a 40.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 14.90% of the stock is owned by company insiders.
Institutional Trading of Allient
Several hedge funds and other institutional investors have recently modified their holdings of the company. Nkcfo LLC increased its stake in shares of Allient by 700.0% during the 2nd quarter. Nkcfo LLC now owns 32,000 shares of the company’s stock worth $1,162,000 after purchasing an additional 28,000 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Allient in the 2nd quarter valued at $560,000. AIGH Capital Management LLC bought a new stake in Allient in the second quarter worth $7,262,000. Assenagon Asset Management S.A. acquired a new position in Allient during the third quarter worth $495,000. Finally, Allspring Global Investments Holdings LLC increased its position in Allient by 1.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 450,279 shares of the company’s stock worth $16,350,000 after buying an additional 7,944 shares during the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.
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.