Allient (NASDAQ:ALNT) Shares Gap Up – Here’s Why

Allient Inc. (NASDAQ:ALNT)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $51.41, but opened at $54.52. Allient shares last traded at $55.00, with a volume of 21,551 shares traded.

Analyst Ratings Changes

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

Allient Price Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 3.53 and a quick ratio of 2.01. The company’s 50-day simple moving average is $52.99 and its 200-day simple moving average is $45.09. The company has a market cap of $932.04 million, a price-to-earnings ratio of 49.13 and a beta of 1.59.

Allient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, November 20th. Allient’s payout ratio is presently 10.71%.

Insider Transactions at Allient

In other Allient news, VP Ashish Bendre sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total value of $836,000.00. Following the transaction, the vice president directly owned 23,166 shares of the company’s stock, valued at $1,210,423.50. This represents a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALNT. Vanguard Group Inc. lifted its position in shares of Allient by 7.7% during the first quarter. Vanguard Group Inc. now owns 908,965 shares of the company’s stock worth $19,979,000 after purchasing an additional 65,061 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Allient by 26.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 91,033 shares of the company’s stock valued at $2,001,000 after buying an additional 18,854 shares in the last quarter. Deutsche Bank AG lifted its holdings in Allient by 2.9% during the 1st quarter. Deutsche Bank AG now owns 18,221 shares of the company’s stock worth $400,000 after buying an additional 520 shares during the last quarter. Invesco Ltd. grew its position in shares of Allient by 22.6% in the 1st quarter. Invesco Ltd. now owns 28,191 shares of the company’s stock worth $620,000 after acquiring an additional 5,198 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Allient by 27.9% in the 1st quarter. American Century Companies Inc. now owns 27,553 shares of the company’s stock worth $606,000 after acquiring an additional 6,002 shares in the last quarter. 61.57% of the stock is currently owned by 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.