Allient (NASDAQ:ALNT) Shares Down 5.6% – Here’s What Happened

Shares of Allient Inc. (NASDAQ:ALNT) dropped 5.6% during mid-day trading on Tuesday . The stock traded as low as $53.59 and last traded at $55.0650. Approximately 21,782 shares were traded during trading, a decline of 76% from the average daily volume of 89,737 shares. The stock had previously closed at $58.33.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Roth Capital raised their price target on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a report 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. assumed coverage on shares of Allient in a research note on Monday, October 20th. They issued a “neutral” rating and a $60.00 price objective for the company. Finally, Zacks Research cut Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Allient has a consensus rating of “Hold” and an average price target of $50.33.

Allient Trading Down 2.4%

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 company has a market cap of $964.48 million, a PE ratio of 50.83 and a beta of 1.55. The stock has a 50 day moving average price of $53.96 and a 200 day moving average price of $47.13.

Allient Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, November 20th. Allient’s dividend payout ratio (DPR) is presently 10.71%.

Insider Activity

In other news, VP Ashish Bendre sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total value of $836,000.00. Following the sale, the vice president directly owned 23,166 shares of the company’s stock, valued at $1,210,423.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 14.90% of the company’s stock.

Hedge Funds Weigh In On Allient

Several institutional investors and hedge funds have recently modified their holdings of ALNT. Advisory Services Network LLC bought a new position in Allient in the 3rd quarter worth about $34,000. State of Alaska Department of Revenue purchased a new position in Allient in the 3rd quarter worth approximately $41,000. Cullen Frost Bankers Inc. raised its holdings in Allient by 173.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after acquiring an additional 633 shares during the last quarter. New York State Teachers Retirement System bought a new position in Allient in the 3rd quarter valued at approximately $58,000. Finally, AlphaQuest LLC purchased a new stake in Allient during the 3rd quarter valued at $88,000. 61.57% of the stock is currently owned by institutional investors.

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.