Allient (NASDAQ:ALNT) Hits New 52-Week High Following Earnings Beat

Shares of Allient Inc. (NASDAQ:ALNT) reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $108.63 and last traded at $108.5390, with a volume of 45214 shares trading hands. The stock had previously closed at $93.25.

The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. Allient had a net margin of 4.25% and a return on equity of 12.47%. The firm had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million.

Allient Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. Allient’s payout ratio is 11.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Capital reaffirmed a “buy” rating and set a $70.00 price target on shares of Allient in a report on Friday, May 8th. Weiss Ratings raised Allient from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a research report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on shares of Allient from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.83.

Hedge Funds Weigh In On Allient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arax Advisory Partners boosted its stake in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares in the last quarter. Advisory Services Network LLC bought a new stake in Allient during the third quarter worth approximately $34,000. Larson Financial Group LLC grew its holdings in Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after purchasing an additional 413 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Allient by 22.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after buying an additional 209 shares during the period. Finally, State of Wyoming acquired a new position in Allient in the 4th quarter valued at $67,000. Institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 76.55 and a beta of 1.61. The stock’s 50-day simple moving average is $89.77 and its two-hundred day simple moving average is $74.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73.

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.