Allient (NASDAQ:ALNT) Stock Price Up 9.8% – Here’s What Happened
by Tristan Rich · The Markets DailyAllient Inc. (NASDAQ:ALNT – Get Free Report)’s stock price traded up 9.8% during mid-day trading on Monday . The stock traded as high as $109.13 and last traded at $110.2950. Approximately 133,698 shares were traded during mid-day trading, a decline of 40% from the average session volume of 223,637 shares. The stock had previously closed at $100.49.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Jefferies Financial Group set a $80.00 price objective on Allient in a research note on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 price target on Allient in a report on Tuesday, May 26th. Weiss Ratings downgraded shares of Allient from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Wall Street Zen downgraded shares of Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $84.00.
Read Our Latest Report on ALNT
Allient Stock Down 0.9%
The stock has a market capitalization of $1.82 billion, a P/E ratio of 63.15 and a beta of 1.62. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. The company’s 50-day moving average price is $96.08 and its 200 day moving average price is $82.63.
Allient (NASDAQ:ALNT – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.19. The company had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. As a group, equities analysts expect that Allient Inc. will post 2.73 earnings per share for the current year.
Allient Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a yield of 0.1%. Allient’s dividend payout ratio is 9.41%.
Insiders Place Their Bets
In other Allient news, CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the sale, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 15.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On Allient
A number of hedge funds have recently made changes to their positions in ALNT. BlackRock Inc. acquired a new stake in shares of Allient during the 2nd quarter worth $128,774,000. Jennison Associates LLC increased its stake in Allient by 111.5% during the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after acquiring an additional 186,316 shares during the last quarter. Telemark Asset Management LLC purchased a new position in shares of Allient in the 4th quarter worth about $8,062,000. Bank of New York Mellon Corp acquired a new position in shares of Allient in the 2nd quarter valued at about $9,051,000. Finally, Deutsche Bank AG purchased a new stake in shares of Allient during the 2nd quarter worth about $6,813,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.
Allient Company Profile
Allient Inc (NASDAQ: ALNT) is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.
Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.