Allient (NASDAQ:ALNT) Shares Down 5% – Here’s What Happened

Allient Inc. (NASDAQ:ALNT) shares dropped 5% during mid-day trading on Friday . The stock traded as low as $94.32 and last traded at $94.49. Approximately 149,417 shares changed hands during trading, a decline of 33% from the average session volume of 224,684 shares. The stock had previously closed at $99.43.

Wall Street Analysts Forecast Growth

ALNT has been the subject of several research reports. Jefferies Financial Group set a $80.00 target price on Allient in a research report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price target on shares of Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Finally, Roth Capital reaffirmed a “buy” rating and set a $70.00 target price on shares of Allient in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $84.00.

Allient Stock Performance

The stock has a market capitalization of $1.63 billion, a PE ratio of 56.38 and a beta of 1.61. The stock has a fifty day moving average of $95.35 and a 200-day moving average of $77.96. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56.

Allient (NASDAQ:ALNT) last released its earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.61 by $0.19. Allient had a return on equity of 13.55% and a net margin of 4.98%.The firm had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. Equities analysts anticipate that Allient Inc. will post 2.72 earnings per share for the current fiscal year.

Allient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. Allient’s payout ratio is currently 9.41%.

Insider Activity at Allient

In related news, CEO Richard S. Warzala sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the sale, the chief executive officer directly owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tulsa Wealth Advisors INC purchased a new stake in shares of Allient during the 4th quarter worth $659,000. Jennison Associates LLC acquired a new position in shares of Allient during the fourth quarter worth $8,982,000. Sei Investments Co. increased its holdings in 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 last quarter. Vanguard Group Inc. increased its holdings in Allient by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock valued at $54,355,000 after buying an additional 26,438 shares during the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Allient in the second quarter valued at $3,992,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

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.