Allient (NASDAQ:ALNT) Trading 9.8% Higher – Time to Buy?

Allient Inc. (NASDAQ:ALNT)’s share price shot up 9.8% during mid-day trading on Monday . The stock traded as high as $109.13 and last traded at $110.2950. 133,698 shares traded hands during trading, a decline of 40% from the average session volume of 223,637 shares. The stock had previously closed at $100.49.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALNT shares. Weiss Ratings raised shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Allient from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Macquarie Infrastructure set a $80.00 price target on shares of Allient in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $84.00.

Allient Price Performance

The firm has a 50 day moving average price of $95.26 and a two-hundred day moving average price of $81.99. The company has a market cap of $1.88 billion, a P/E ratio of 64.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42.

Allient (NASDAQ:ALNT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.61 by $0.19. The business had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. On average, analysts predict that Allient Inc. will post 2.73 EPS for the current fiscal year.

Allient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.16 annualized dividend and a yield of 0.1%. Allient’s dividend payout ratio (DPR) is 9.41%.

Insiders Place Their Bets

In other Allient news, CEO Richard Warzala sold 70,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $170,268,459.48. The trade was a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Allient

Hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. lifted its position in Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after purchasing an additional 209 shares during the last quarter. Jag Capital Management LLC increased its holdings in shares of Allient by 5.1% in the 1st quarter. Jag Capital Management LLC now owns 5,107 shares of the company’s stock worth $302,000 after buying an additional 246 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Allient during the 2nd quarter valued at $25,000. Kilter Group LLC purchased a new stake in shares of Allient during the 2nd quarter valued at $37,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after acquiring an additional 413 shares during the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

About Allient

Allient Inc (NASDAQ: ALNT) is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.