Allient (NASDAQ:ALNT) Releases Earnings Results, Beats Estimates By $0.19 EPS

Allient (NASDAQ:ALNT) announced its quarterly earnings results on Wednesday. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19, FiscalAI reports. Allient had a net margin of 4.25% and a return on equity of 12.47%. The company had revenue of $153.77 million for the quarter, compared to analysts’ expectations of $145.68 million.

Allient Stock Down 1.4%

Shares of ALNT opened at $93.25 on Thursday. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 65.21 and a beta of 1.61. The stock’s 50-day moving average price is $89.77 and its 200-day moving average price is $74.11. Allient has a 52 week low of $38.24 and a 52 week high of $104.65.

Allient Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued 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, August 19th. Allient’s dividend payout ratio (DPR) is 11.19%.

Institutional Trading of Allient

A number of hedge funds have recently bought and sold shares of ALNT. Arax Advisory Partners lifted its holdings in shares of Allient by 113.9% in the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Allient in the third quarter valued at $34,000. State of Wyoming purchased a new stake in shares of Allient in the 4th quarter valued at $67,000. CANADA LIFE ASSURANCE Co acquired a new position in Allient during the 4th quarter worth about $100,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Allient by 162.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after purchasing an additional 1,355 shares in the last quarter. Institutional investors and hedge funds own 61.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ALNT shares. JPMorgan Chase & Co. raised their price target on Allient from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Jefferies Financial Group set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 price target on Allient in a research report on Tuesday, May 26th. Roth Capital reiterated a “buy” rating and issued a $70.00 price target on shares of Allient in a report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Allient currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.83.

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.