Allient (NASDAQ:ALNT) Reaches New 12-Month High – Here’s What Happened

Shares of Allient Inc. (NASDAQ:ALNT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $63.30 and last traded at $62.7550, with a volume of 12929 shares traded. The stock had previously closed at $61.17.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. started coverage on Allient in a research report on Monday, October 20th. They set 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 report on Wednesday. Zacks Research cut shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Roth Mkm raised their price objective on Allient from $49.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 14th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.33.

Allient Trading Down 1.1%

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 stock’s 50 day moving average is $55.75 and its 200-day moving average is $49.15. The company has a market capitalization of $1.07 billion, a P/E ratio of 56.27 and a beta of 1.55.

Allient Announces Dividend

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

Insider Activity at Allient

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 sale, the vice president owned 23,166 shares in the company, valued at approximately $1,210,423.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Allient

A number of hedge funds and other institutional investors have recently bought and sold shares of ALNT. Vanguard Group Inc. grew its stake in shares of Allient by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 984,815 shares of the company’s stock worth $44,070,000 after buying an additional 66,552 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Allient by 1.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 450,279 shares of the company’s stock worth $16,350,000 after acquiring an additional 7,944 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Allient by 1.9% in the second quarter. Pinnacle Associates Ltd. now owns 333,277 shares of the company’s stock worth $12,101,000 after acquiring an additional 6,145 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Allient by 20.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock valued at $13,009,000 after acquiring an additional 49,384 shares in the last quarter. Finally, Portolan Capital Management LLC purchased a new position in shares of Allient in the 3rd quarter worth about $11,530,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

About Allient

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.