Allient (NASDAQ:ALNT) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Allient Inc. (NASDAQ:ALNT)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $82.72 and traded as low as $75.49. Allient shares last traded at $79.56, with a volume of 405,341 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALNT shares. Wall Street Zen lowered shares of Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. JPMorgan Chase & Co. downgraded Allient from an “overweight” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Tuesday, October 13th. Weiss Ratings lowered Allient from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, Zacks Research cut Allient from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Allient currently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Allient Price Performance

The stock has a fifty day moving average of $98.64 and a 200-day moving average of $82.89. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $1.38 billion, a P/E ratio of 34.50 and a beta of 1.62.

Allient (NASDAQ:ALNT) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.33. Allient had a net margin of 4.98% and a return on equity of 13.55%. The firm had revenue of $164.40 million for the quarter, compared to analyst estimates of $155.25 million. Equities analysts predict that Allient Inc. will post 2.72 EPS for the current fiscal year.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be paid 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 of this dividend is Wednesday, November 18th. Allient’s dividend payout ratio is 7.21%.

Insider Activity at Allient

In related news, CEO Richard Warzala sold 70,000 shares of the firm’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 value of $7,950,600.00. Following the completion of the sale, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Aberdeen Group plc acquired a new stake in Allient during the 3rd quarter worth $2,991,000. Russell Investments Group Ltd. lifted its stake in shares of Allient by 26.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 49,237 shares of the company’s stock valued at $5,495,000 after purchasing an additional 10,216 shares during the period. Lisanti Capital Growth LLC lifted its stake in shares of Allient by 78.6% in the 3rd quarter. Lisanti Capital Growth LLC now owns 55,170 shares of the company’s stock valued at $6,157,000 after purchasing an additional 24,280 shares during the period. Ethic Inc. acquired a new position in shares of Allient in the 3rd quarter valued at $363,000. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Allient by 16.9% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 59,059 shares of the company’s stock worth $6,591,000 after purchasing an additional 8,534 shares during the last quarter. Institutional investors own 61.57% of the company’s stock.

About Allient

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.