Allient (NASDAQ:ALNT) Sets New 52-Week High – Should You Buy?

Allient Inc. (NASDAQ:ALNT) reached a new 52-week high on Thursday . The stock traded as high as $91.76 and last traded at $91.0540, with a volume of 104875 shares. The stock had previously closed at $85.76.

Analyst Ratings Changes

A number of analysts have issued reports on ALNT shares. Jefferies Financial Group set a $80.00 target price on Allient in a report on Tuesday, May 26th. Craig Hallum reissued a “buy” rating and issued a $75.00 price objective on shares of Allient in a research report on Monday, March 9th. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Lake Street Capital began coverage on shares of Allient in a research note on Wednesday, February 18th. They set a “buy” rating and a $79.00 target price for the company. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.33.

Allient Trading Up 6.7%

The business’s 50 day moving average price is $71.13 and its 200-day moving average price is $64.10. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 64.19 and a beta of 1.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73.

Allient (NASDAQ:ALNT) last issued its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a net margin of 4.25% and a return on equity of 12.47%. The business had revenue of $138.92 million for the quarter, compared to analyst estimates of $138.42 million. On average, research analysts forecast that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.04 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. This is an increase from Allient’s previous quarterly dividend of $0.03. Allient’s dividend payout ratio is currently 11.19%.

Hedge Funds Weigh In On Allient

Several hedge funds and other institutional investors have recently modified their holdings of ALNT. Tudor Investment Corp ET AL acquired a new position in Allient during the third quarter worth $3,196,000. Jennison Associates LLC acquired a new stake in shares of Allient during the fourth quarter worth approximately $8,982,000. Handelsbanken Fonder AB bought a new position in shares of Allient in the third quarter valued at approximately $5,888,000. Principal Financial Group Inc. acquired a new position in shares of Allient in the 3rd quarter worth approximately $647,000. Finally, Teton Advisors LLC acquired a new position in shares of Allient in the 3rd quarter worth approximately $3,007,000. Institutional investors own 61.57% of the company’s stock.

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.