Allient (NASDAQ:ALNT) Hits New 1-Year High – Here’s Why
by Michael Walen · The Markets DailyAllient Inc. (NASDAQ:ALNT – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $63.30 and last traded at $62.7550, with a volume of 12929 shares changing hands. The stock had previously closed at $61.17.
Analyst Upgrades and Downgrades
ALNT has been the subject of several recent research reports. Roth Capital increased their target price on shares of Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a research report on Wednesday, October 8th. JPMorgan Chase & Co. initiated coverage on Allient in a research report on Monday, October 20th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.33.
Allient Stock Performance
The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $55.30 and its 200-day moving average price is $48.95. The company has a market cap of $1.05 billion, a P/E ratio of 55.12 and a beta of 1.55.
Allient Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Thursday, November 20th. Allient’s dividend payout ratio is presently 10.71%.
Insider Activity
In other news, VP Ashish Bendre sold 16,000 shares of Allient stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.90% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of ALNT. Advisory Services Network LLC acquired a new stake in shares of Allient during the third quarter worth $34,000. Cullen Frost Bankers Inc. increased its stake in shares of Allient by 173.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after acquiring an additional 633 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Allient during the 3rd quarter worth approximately $41,000. New York State Teachers Retirement System bought a new stake in Allient in the third quarter valued at approximately $58,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Allient by 162.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock worth $80,000 after purchasing an additional 1,355 shares in the last quarter. 61.57% of the stock is 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.