Allient (NASDAQ:ALNT) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Allient (NASDAQ:ALNT) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks reports.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Allient from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Allient from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 19th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Allient Stock Down 4.1%

NASDAQ:ALNT opened at $108.63 on Tuesday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 63.90 and a beta of 1.58. Allient has a twelve month low of $44.30 and a twelve month high of $121.42. The stock’s 50 day moving average price is $102.75 and its two-hundred day moving average price is $86.98. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56.

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. Allient had a return on equity of 13.55% and a net margin of 4.98%.The company had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Equities research analysts expect that Allient will post 2.73 earnings per share for the current fiscal year.

Allient Dividend Announcement

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

Insider Transactions at Allient

In other Allient news, CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the completion of the sale, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allient

Several institutional investors and hedge funds have recently modified their holdings of ALNT. BlackRock Inc. bought a new position in Allient in the 2nd quarter valued at about $128,774,000. Jennison Associates LLC boosted its holdings in shares of Allient by 111.5% during the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after acquiring an additional 186,316 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Allient during the second quarter worth approximately $9,051,000. Deutsche Bank AG acquired a new position in shares of Allient in the second quarter valued at approximately $6,813,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Allient in the first quarter valued at approximately $2,777,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

About Allient

Allient Inc (NASDAQ: ALNT) is a global manufacturer of precision and specialty motion-control products. The company designs and produces motors, motion controllers, drives, servo systems, electromechanical assemblies, and related components used to control movement and power in complex equipment.

Allient serves a range of markets, including medical equipment, aerospace and defense, industrial automation, robotics, vehicle systems, and other demanding applications. Its products are used in areas such as surgical and diagnostic equipment, factory automation, unmanned systems, and precision machinery.