Allient (NASDAQ:ALNT) Shares Down 5% – What’s Next?

Allient Inc. (NASDAQ:ALNT) shares traded down 5% during mid-day trading on Friday . The company traded as low as $94.32 and last traded at $94.49. 149,417 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 224,684 shares. The stock had previously closed at $99.43.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Zacks Research upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research report on Tuesday, May 26th. Finally, Roth Capital reissued a “buy” rating and set a $70.00 price objective on shares of Allient in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Allient has an average rating of “Buy” and an average price target of $84.00.

Allient Price Performance

The firm has a fifty day moving average price of $95.26 and a two-hundred day moving average price of $77.84. 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 stock has a market capitalization of $1.63 billion, a P/E ratio of 56.36 and a beta of 1.61.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. Allient had a net margin of 4.98% and a return on equity of 13.55%. The company had revenue of $153.77 million for the quarter, compared to analysts’ expectations of $145.68 million. On average, analysts expect that Allient Inc. will post 2.72 EPS for the current year.

Allient Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s payout ratio is 9.41%.

Insider Activity

In other news, CEO Richard S. Warzala sold 70,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the sale, the chief executive officer owned 1,499,106 shares in the company, valued at $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Allient

A number of hedge funds have recently added to or reduced their stakes in ALNT. Round Rock Advisors LLC lifted its position in Allient by 8.2% in the 2nd quarter. Round Rock Advisors LLC now owns 24,086 shares of the company’s stock valued at $2,479,000 after acquiring an additional 1,822 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Allient in the 2nd quarter worth $3,181,000. Navellier & Associates Inc. raised its stake in shares of Allient by 158.7% in the second quarter. Navellier & Associates Inc. now owns 17,975 shares of the company’s stock worth $1,850,000 after purchasing an additional 11,027 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Allient in the second quarter worth $660,000. Finally, United Capital Financial Advisors LLC bought a new position in shares of Allient during the second quarter valued at $751,000. 61.57% of the stock is currently owned by hedge funds and other 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.