Allient Inc. (NASDAQ:ALNT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Allient Inc. (NASDAQ:ALNT) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.3333.

Several brokerages have weighed in on ALNT. Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on Allient in a report on Monday, October 20th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Roth Capital lifted their price target on Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 14th.

Insider Activity

In related news, VP Ashish Bendre sold 16,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total transaction of $836,000.00. Following the sale, the vice president directly owned 23,166 shares of the company’s stock, valued at approximately $1,210,423.50. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALNT. Advisory Services Network LLC acquired a new stake in shares of Allient during the 3rd quarter valued at about $34,000. State of Alaska Department of Revenue purchased a new position in Allient during the third quarter worth approximately $41,000. Cullen Frost Bankers Inc. grew its holdings in Allient by 173.0% in the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after purchasing an additional 633 shares during the period. New York State Teachers Retirement System acquired a new stake in Allient in the third quarter valued at approximately $58,000. Finally, AlphaQuest LLC acquired a new position in shares of Allient during the 3rd quarter worth approximately $88,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Stock Down 1.0%

NASDAQ:ALNT opened at $57.00 on Friday. The firm has a market capitalization of $965.58 million, a P/E ratio of 50.89 and a beta of 1.55. Allient has a 1-year low of $19.25 and a 1-year high of $59.55. The company’s fifty day moving average price is $54.03 and its 200-day moving average price is $47.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.53 and a quick ratio of 2.01.

Allient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, November 20th. Allient’s payout ratio is 10.71%.

About Allient

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.