Allient (NASDAQ:ALNT) Sets New 12-Month High – Here’s Why

Shares of Allient Inc. (NASDAQ:ALNT) reached a new 52-week high on Thursday . The company traded as high as $91.76 and last traded at $91.0540, with a volume of 104875 shares trading hands. The stock had previously closed at $85.76.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALNT. Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. upgraded shares of Allient from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $65.00 to $80.00 in a research report on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. Roth Mkm reissued a “buy” rating and issued a $70.00 price target on shares of Allient in a report on Friday, May 8th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $75.00 price objective on shares of Allient in a report on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

Allient Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 64.19 and a beta of 1.63. The firm’s 50-day moving average price is $71.13 and its 200 day moving average price is $64.10.

Allient (NASDAQ:ALNT) last released its earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The business had revenue of $138.92 million for the quarter, compared to analyst estimates of $138.42 million. On average, sell-side analysts anticipate that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given 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 was Thursday, May 21st. This is an increase from Allient’s previous quarterly dividend of $0.03. Allient’s dividend payout ratio is presently 11.19%.

Institutional Trading of Allient

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in Allient by 19.8% during the first quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock valued at $2,453,000 after purchasing an additional 18,416 shares during the period. AQR Capital Management LLC raised its holdings in Allient by 8.0% in the first quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock worth $1,179,000 after purchasing an additional 3,979 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Allient by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after purchasing an additional 390 shares during the period. Empowered Funds LLC boosted its position in shares of Allient by 8.1% during the first quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after purchasing an additional 3,458 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Allient by 9.9% in the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock valued at $404,000 after buying an additional 1,663 shares in the last quarter. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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.