Allient (NASDAQ:ALNT) Shares Down 8.2% – What’s Next?

Allient Inc. (NASDAQ:ALNT)’s share price dropped 8.2% during mid-day trading on Friday. The stock traded as low as $77.90 and last traded at $77.5150. Approximately 113,207 shares traded hands during trading, a decline of 50% from the average session volume of 225,029 shares. The stock had previously closed at $84.40.

Analyst Ratings Changes

A number of brokerages have recently commented on ALNT. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Allient from $120.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday, November 6th. Wall Street Zen upgraded shares of Allient from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Finally, Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Allient has a consensus rating of “Moderate Buy” and a consensus target price of $82.33.

Allient Price Performance

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 34.94 and a beta of 1.62. The company has a current ratio of 3.49, a quick ratio of 1.99 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $98.24 and a 200 day moving average of $83.34.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.33. Allient had a return on equity of 15.80% and a net margin of 6.24%. The firm had revenue of $164.40 million during the quarter, compared to analysts’ expectations of $155.25 million. Equities research analysts predict that Allient Inc. will post 3.08 EPS for the current fiscal year.

Allient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, November 18th. Allient’s payout ratio is 7.21%.

Hedge Funds Weigh In On Allient

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in Allient during the 2nd quarter worth approximately $9,051,000. BlackRock Inc. bought a new position in Allient in the second quarter valued at approximately $128,774,000. Susquehanna Fundamental Investments LLC bought a new position in Allient in the second quarter valued at approximately $3,181,000. Sei Investments Co. boosted its holdings in shares of Allient by 87.9% in the first quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock valued at $3,275,000 after buying an additional 25,935 shares during the period. Finally, Navellier & Associates Inc. boosted its holdings in shares of Allient by 158.7% in the second quarter. Navellier & Associates Inc. now owns 17,975 shares of the company’s stock valued at $1,850,000 after buying an additional 11,027 shares during the period. 61.57% of the stock is currently owned by institutional investors and hedge funds.

About Allient

Allient Inc. designs and manufactures precision and specialty motion-control and power solutions. Its products include motors, gear motors, motion controllers, drives, encoders, actuators and integrated systems that help equipment move and operate with precision. The company serves a range of markets, including medical, aerospace and defense, industrial automation, robotics, transportation and energy. Allient operates internationally, with customers and operations across North America, Europe and Asia.