Allient (NASDAQ:ALNT) Reaches New 12-Month High – Still a Buy?

Allient Inc. (NASDAQ:ALNT)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $58.85 and last traded at $59.02, with a volume of 75312 shares trading hands. The stock had previously closed at $55.58.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALNT. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a report on Wednesday, October 8th. Roth Capital boosted their price objective on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. JPMorgan Chase & Co. initiated coverage on shares of Allient in a report on Monday, October 20th. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, Zacks Research cut shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Allient has an average rating of “Hold” and an average target price of $50.33.

Allient Price Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 3.53 and a quick ratio of 2.01. The company’s 50-day moving average is $53.88 and its 200-day moving average is $46.96. The firm has a market capitalization of $988.11 million, a price-to-earnings ratio of 52.08 and a beta of 1.55.

Allient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.12 annualized dividend and a yield of 0.2%. Allient’s dividend payout ratio is currently 10.71%.

Insider Activity

In related news, VP Ashish Bendre sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total transaction of $836,000.00. Following the completion of the sale, the vice president owned 23,166 shares of the company’s stock, valued at approximately $1,210,423.50. This represents a 40.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Allient

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Allient by 19.8% in 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 grew its stake in shares of Allient by 8.0% in the first quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock valued at $1,179,000 after buying an additional 3,979 shares in the last quarter. Hancock Whitney Corp raised its holdings in shares of Allient by 21.1% during the 1st quarter. Hancock Whitney Corp now owns 11,555 shares of the company’s stock valued at $254,000 after buying an additional 2,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Allient by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after acquiring an additional 390 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Allient during the 1st quarter worth approximately $370,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

About Allient

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.